CITIBANK, N.A. 花旗銀行

The stock was listed on 25-Sep-2017.

For impersonating a client by phone and placing orders.

An accumulator case rumbles on.

Citibank has responded in a most disappointing way to yesterday's article, in essence shrugging its corporate shoulders and claiming to be just following instructions. That is not an excuse in the money-laundering arena, and it won't wash in the corporate governance arena either.

Webb-site has discovered that Citibank has been tilting the outcome of shareholder meetings in HK by giving blank proxies to management-nominated voters on behalf of Taiwan Depositary Receipts for which it has no voting instructions. We call on Citibank to stop this outrageous practice and on the HKMA and SFC to ensure that the HK branch does so.

"The judge correctly observed that poor draftsmanship provided considerable scope for advancing different interpretations of the trust instrument. In fact, the trust instrument bristles with difficulties of construction....Apparently, the trust instrument is widely used as a standard precedent for Citigroup Private Banking"

Citibank is suing the defendants for HK$7.7m of margin calls after failed accumulators and decumulators. The defendants counterclaim for US$4.8m of losses, claiming mis-selling.

"I came to a firm conclusion that [Azure Trustees] defended proceedings unreasonably and for its own benefit."

"Despite being prepared by a professional trustee (Azure), the Deed was very poorly drafted."