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BRIEF-Finra sanctions Citigroup, Goldman, JPMorgan, Merrill, Morgan Stanley for using municipal/state bond funds to pay lobbyists
December 27, 2012 / 3:20 PM / 5 years ago

BRIEF-Finra sanctions Citigroup, Goldman, JPMorgan, Merrill, Morgan Stanley for using municipal/state bond funds to pay lobbyists

Dec 27 (Reuters) - * Finra says sanctions five firms more than $4.48 million for using municipal

and state bond funds to pay lobbyists * Finra says orders fines, restitution against Citigroup Goldman Sachs

JPMorgan Chase Bank of America’s Merrill Lynch unit,

Morgan Stanley * Finra says the banks unfairly obtained reimbursement of fees they paid to

California public securities association * Finra says the banks violated fair dealing and supervisory rules of municipal

securities rulemaking board * Finra says the banks neither admitted nor denied its charges

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