Citigroup Unit To Pay $5 Million To Settle SEC Charges

(Reuters) - A private trading venue owned by Citigroup (C.N) will pay a $5 million penalty to settle charges that it failed to protect customers' data, marking the latest case in a crackdown by U.S. regulators over alleged market rule violations. The Securities and Exchange Commission said the unit, LavaFlow Inc., is settling the civil case without admitting or denying the charges.