Citi To Pay SEC $75 Mill Over Forgetting To Tell Investors This, Like, Minor Li'l Thing Of Practically No Significance

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Things just fall through the cracks sometimes. They had a lot going on that day.
"The bank will pay $75 million to settle regulatory charges that it failed to disclose $40 billion in subprime exposure to investors in the second and third quarters of 2007, according to people familiar with the matter.The settlement with the Securities and Exchange Commission won't charge the giant bank with fraud, but rather material omission of disclosure requirements, the people said. The SEC is expected to indicate that Citi didn't intentionally mislead investors, they added." [WSJ]

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