Citigroup Global Markets Inc. agreed to pay a fine of US $1.25 million to settle charges brought by the Financial Industry Regulatory Authority that, from January 2010 through May 2017, it failed to conduct timely or adequate background checks on approximately 10,400 of its non-registered personnel. As a result, the firm could not assess whether such persons were statutorily disqualified from associating with CGMI. Additionally, FINRA claimed that CGMI failed to fingerprint at least 520 non-registered associated persons, as required until after they commenced working for the firm, and could not find documents confirming fingerprinting of an additional 520 persons. FINRA also alleged that the firm failed to maintain adequate written supervisory procedures to screen non-registered associated persons for potential statutory disqualifications. In settling, FINRA acknowledged CGMI’s efforts to identify and fix its practices regarding non-registered employees prior to the regulator’s intervention, and CGMI’s proactive cooperation.