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Posts Tagged ‘Citigroup’
Wednesday, April 7th, 2010 by sturnbull
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What is a stock borrow program?
The Financial Industry Regulatory Authority (FINRA) fined Citigroup Global Markets, Inc. $650,000 for disclosure and supervisory violations relating to the operation of its stock borrow program. What is a stock borrow program? A stock borrow program is an agreement between the customer and his/her brokerage firm that allows the brokerage firm to borrow securities from the customer’s ...