{"id":43728,"date":"2014-08-26T09:30:58","date_gmt":"2014-08-26T13:30:58","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=43728"},"modified":"2014-08-26T09:37:03","modified_gmt":"2014-08-26T13:37:03","slug":"citigroup-to-stop-selling-hedge-fund-investments","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2014\/citigroup-to-stop-selling-hedge-fund-investments.html","title":{"rendered":"Citigroup To Stop Selling Hedge Fund Investments"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/06\/citigroup630.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright  wp-image-15989\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/06\/citigroup630.jpg\" alt=\"citigroup hedge fund\" width=\"376\" height=\"312\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/06\/citigroup630.jpg 443w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/06\/citigroup630-300x249.jpg 300w\" sizes=\"auto, (max-width: 376px) 100vw, 376px\" \/><\/a>New York (HedgeCo.Net) &#8211; Citigroup Inc has been restricted from selling hedge funds investments and private-equity funds to high net worth clients, the WSJ reports.<\/p>\n<p>Citigroup, in JUly of this year,\u00a0has also agreed to pay approximately $7 billion for its part in the financial crisis of 2008, the WSJ reports. Citigroup is accused of\u00a0downplaying the risks of sub-prime mortgages when packaging them selling them to hedge funds, mutual funds and pension funds.<\/p>\n<p>Under the Securities and Exchange Commission\u2019s new \u201cbad actor\u201d rule, adopted last year, firms with \u201ca relevant criminal conviction, regulatory or court order or other disqualifying event\u201d are barred from participating in private offerings. That means that Citi isn\u2019t allowed to sell hedge-fund or private-equity investments to high-net worth clients, although it can still arrange sales to large institutions.<\/p>\n<p>At its height until the global financial crisis of 2008 Citigroup was the largest company and bank in the world by total assets. Citigroup had the world&#8217;s largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide and holds over 200 million customer accounts in more than 140 countries.<\/p>\n<p>Citigroup suffered huge losses during the global financial crisis of 2008 and was rescued in November 2008 in a massive stimulus package by the U.S. government.<\/p>\n<p>Citigroup reported second quarter earnings per share of $0.03; $1.24, a net income of $181 million; $3.9 billion, and revenues of $19.3 billion, excluding the impact of the mortgage settlement.<\/p>\n<p>Alex Akesson<br style=\"color: #000000;\" \/><span style=\"color: #000000;\">For\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br style=\"color: #000000;\" \/><a style=\"color: #743399;\" href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br style=\"color: #000000;\" \/><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a><span style=\"color: #000000;\">\u00a0is a premier\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a><span style=\"color: #000000;\">\u00a0and community for qualified and accredited investors only. Membership in\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><span style=\"color: #000000;\">\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a><span style=\"color: #000000;\">!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; Citigroup Inc has been restricted from selling hedge funds investments and private-equity funds to high net worth clients, the WSJ reports. Citigroup, in JUly of this year,\u00a0has also agreed to pay approximately $7 billion for its [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-43728","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/43728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=43728"}],"version-history":[{"count":6,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/43728\/revisions"}],"predecessor-version":[{"id":43735,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/43728\/revisions\/43735"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=43728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=43728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=43728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}