BUSINESS
11/08/2011 02:14 pm ET | Updated Jan 08, 2012

Wall Street Firms Repeatedly Make False Pledges To SEC

WASHINGTON -- When Citigroup agreed last month to pay $285 million to settle civil charges that it had defrauded customers during the housing bubble, the Securities and Exchange Commission wrested a typical pledge from the company: Citigroup would never violate one of the main antifraud provisions of the nation’s securities laws.

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