Tag Archives: Japan Finance

Citigroup Being Investigated in Japan by Financial Regulators

Citigroup is being investigated by Japanese regulators for possible infractions related to its marketing of financial products and could face its third major punishment in Japan in 7 years, a source with knowledge of the matter said.

Japan’s Financial Services Agency (FSA) is probing whether Citigroup failed to offer sufficient explanations to customers about investment trusts, which are similar to mutual funds in the U.S., and other financial products, the source said.

The regulator is also looking at whether controls against money laundering were sufficient, following punitive action in recent years for lax oversight in that area, the source said.

Read the rest of the story: Citigroup Faces Regulatory Scrutiny in Japan.