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Citi Is Latest Bank to Be Probed Over Unapproved Messaging Services

Citigroup Inc. joined the list of banks being investigated over employee communications using unauthorized messaging services.

The U.S. Securities and Exchange Commission is probing Citigroup Global Markets Inc. “and other firms regarding compliance with record-keeping obligations for broker-dealers and investment advisers in connection with business-related communications sent over unapproved electronic messaging channels,” the New York-based bank said in a regulatory filing Monday. “CGMI is cooperating with the investigation.”