Published On: January 26, 2017

Yesterday, the Securities and Exchange Commission (SEC) announced that Morgan Stanley and Citigroup Global agreed to pay more than $2.96 million each to settle charges that they made false and misleading statements about CitiFX Alpha. CitiFix Alpha is a foreign exchange trading program that was sold to Morgan Stanley customers from August 2010 to July 2011, according to an SEC press release. Citigroup held a 49% ownership interest in Morgan Stanley and both firms were selling the foreign exchange trading program. The SEC stated that there were significant losses caused to investors because of the program’s past performance and risk metrics. There were also undisclosed leverage and markups. If you were a client of Morgan Stanley or Citigroup, you may be able to recover your losses if you were sold CitiFix Alpha Investments. The firms may be liable for your losses. To find out how to recover your money on a contingency fee basis, please call our law firm at 312-332-4200 to speak with an attorney for free. There is no obligation.

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