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Citigroup agrees to pay $285M to investors for negligence, SEC says

Federal regulators charged a Citigroup unit with negligence Wednesday, saying it misled investors about an investment product it used to bet against them as the housing market deteriorated. Citigroup agreed to pay a settlement of $285 million, which will be distributed to investors, the Securities and Exchange Commission said.

SEC unveils post-Madoff broker oversight plan

U.S. securities brokers would be more closely scrutinized by accountants and be subject to stricter rules for how they handle their customers' assets under a plan proposed by federal regulators on Wednesday.

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