Citigroup, CommSec Got Australia Data Early

Date : 07/23/2012 @ 12:20PM
Source : Dow Jones News
Stock : Citigroup, Inc. (C)
Quote : 62.07  0.12 (0.19%) @ 6:44PM

Citigroup, CommSec Got Australia Data Early

Citigroup, Inc. (NYSE:C)
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Australian retail sales data for March was sent about 18 minutes before the scheduled release time on May 7 to six recipients, including Citigroup Inc. (C) and Commonwealth Bank of Australia's (CBA.AU) CommSec unit, Bloomberg News reported Monday, citing documents obtained under the Freedom of Information Act.

According to a Reuters report May 7, the Australian Bureau of Statistics said some figures were emailed in error to six clients.

Bloomberg reported that a spokesman for Commonwealth said "we were aware that it was issued earlier than it should've been and as a result we did nothing with the information until the normal release time of 11:30." A spokeswoman for Citigroup confirmed the bank received the data early and didn't act on it.

Full story at: http://www.bloomberg.com/news/2012-07-23/citigroup-commonwealth-bank-received-aus ralia-data-early.html

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