Citi says SEC has closed probe of mortgage bonds
WASHINGTON (AP) — Citigroup Inc. says it's been told by the Securities and Exchange Commission that the agency has completed its investigation of the bank's conduct regarding mortgage bonds and won't bring further enforcement action.
Citigroup said in a regulatory filing Friday that it received the information from the SEC this week.
The SEC has filed a series of cases against Citigroup and other big Wall Street banks in recent years over their sales of securities backed by risky mortgages ahead of the 2008 financial crisis. The banks have paid hundreds of millions of dollars to settle the SEC charges. The five-year statute of limitations for filing such civil cases has imposed a deadline on the agency for bringing enforcement actions.
SEC spokesman John Nester declined to comment.