FINRA Arbitrators Hit Citigroup With $1.4 Million Damages For Discrimination, Harassment, and Retaliation (BrokeAndBroker.com Blog)
Bill Singer
A critic of the inept and incompetent, and an advocate for economic and political sanity. It's a lonely journey but I walk it. Wall Street legal, regulatory, and compliance veteran since 1982.
FINRA Arbitrators Hit Citigroup With $1.4 Million Damages For Discrimination, Harassment, and Retaliation?(BrokeAndBroker.com Blog)
https://www.brokeandbroker.com/6518/citigroup-discrimination-daly/
A FINRA Panel of Arbitrators found Citigroup Global Markets, Inc. ("CGMI"), Citigroup, Inc., and Citibank, N.A. guilty of?discrimination, harassment, hostile work environment, and retaliation. All of which cost the Respondents?$1.4 million in damages and attorney's fees.?What's Wall Street's leading self-regulatory-organization, FINRA, going to do about those horrific arbitration findings? If past is prologue -- NOTHING. Actually, that's not entirely correct . . . FINRA's lackluster Board of Governors will likely create task forces and call for summits and hold conferences and develop an exam and propose to implement some initiative that will likely never quite get off the ground but, hey, the whole point is giving the appearance of action rather than actually acting, right? Why fix anything when you can just issue a press release!