Citi discloses foreign exchange investigations
NEW YORK (AP) — Citigroup says U.S. government agencies and other regulators are investigating the company's trading on foreign exchange markets.
Citigroup says it has received requests for information and is cooperating with the investigations and responding to those requests.
The inquiries were disclosed in the bank's quarterly 10-Q report. It makes Citi just the latest bank to have authorities look into its foreign exchange practices. JPMorgan Chase & Co. disclosed a similar inquiry Friday, and Barclays PLC and UBS AG revealed that they were the targets of investigations on Wednesday.
Shares of Citigroup Inc. lost 8 cents to $48.70 in morning trading.