Citigroup Unit Ordered to Pay $2.43 Million on Losses, WSJ Says

Citigroup Inc.’s Citigroup Global Markets was ordered to pay a group of investors $2.43 million over losses tied to the company’s MAT Five and municipal arbitrage fund MAT Finance LLC, the Wall Street Journal reported, citing a ruling by a Financial Industry Regulatory Authority panel.

An unidentified Citigroup spokesman said the lender believes the claims are meritless, according to the report.