Citibank settles case with Sebi, pays Rs 4.5 cr

Citibank pays Rs. 4.5 cr., settles case with SEBI Citibank N.A. has settled a case with the SEBI regarding the bank’s alleged failure to adequately supervise an employee who carried out an unregistered portfolio investment scheme. The case was settled after the bank paid Rs. 4.50000000 towards settlement charges, a SEBI order said. In April 2015, the SEBI issued a notice to the bank for alleged violation of portfolio managers norms with respect to one relationship manager.PTI