- Peak Oil Closer Than IEA Forecasts Show: Report
- Fed's Tarullo Backs Surcharges to Limit Bank Size
- Look Ahead: 'Risk On' Sentiment Could Fuel Rally Further
- European Commission Objects to Sun Micro-Oracle Deal
- Obama Sees Strains Unless US, China Balance Growth
- JPMorgan Lifts Salary Freeze Amid Recovery
- Can Apple Top Microsoft as Most Valuable Tech Firm?
- Do You Know Your Coca-Cola Myths?
- Buffett to Sell Stakes in Norfolk Southern, Union Pacific
- Why Google is Paying $750 Million for Ad Mob
- Warren Buffett to Sell Stakes In Union Pacific & Norfolk Southern
- Nov. 9: Unusual Volume Leaders
- The Battered Businesses Behind Housing
- Modern Warfare 2's Record-Breaking Launch
- Merck’s Mega-Monday Morning
- Why are Traders Bullish on This Food Company?
- Profiting From Natural Gas: Strategists
- S&P Stocks Trading at New 52-Week Highs
MOST SHARED
- Obama Sees Strains Unless US, China Balance Growth
- Can Apple Top Microsoft as Most Valuable Tech Firm?
- Future of Marketing
- Oil Tomorrow
- Mad Mail: Buy the Berkshire Hathaway Split?
- European Commission Objects to Sun Micro-Oracle Deal
- Priceline Crushes Profit Forecasts; Shares Jump
- Framed for Porn – By a PC Virus
- Cramer: 5 Stocks to Play the Next Bull Run
Text Size 
Citigroup is expected to be fined $600,000 by the Financial Industry Regulatory Authority over derivatives transactions that helped foreign clients avoid taxes on dividends, a source familiar with the matter said on Sunday.
The fine is expected to be announced on Monday, the source said, declining to be identified because it is not yet public.
The development comes as governments around the world crack down on tax evasion as they look to close widening budget gaps fueled by economic weakness.
 |
The centerpiece of the U.S. tax recovery effort has been its legal case against Swiss banking giant UBS, which earlier this year agreed to pay $780 million to settle criminal claims that it helped U.S. citizens evade taxes.
A Citigroup [C
Loading...
()
] representative was not immediately available for comment. FINRA declined to comment.
The Financial Times first reported the news.
- Do free market libertarians really believe what they say about ethics and shareholder value? The Big Money takes a look.
- Cramer did the research and found eight stocks that lead the pack. Read on to get his top picks.
- On the anniversary of the fall of the Berlin Wall, many in the former Eastern Bloc recall communism fondly.
- Software, biotech firms, even banks are watching a particular Supreme Court argument today.
- From politicians to CEOs to companies, here's your chance to vote for the winners and losers of 2009.
- A new sinister Internet viruses can turn you into an unsuspecting collector of child pornography.
Data is a real-time snapshot *Data is delayed at least 15 minutes