Arbitration panels for the Financial Industry Regulatory Authority have ordered Citigroup to pay roughly $2.2 million to investors who lost money in one of the bank’s municipal bond arbitrage vehicles.

A FINRA panel awarded $1.7 million to three investors in a ruling last month. Another panel awarded $550,000 to other investors in a ruling yet to be made public, law firms for the claimants said yesterday.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.