Citigroup Subsidiary Travelers Subpoenaed In Market Timing Probe

Two of Citigroup’s Travelers insurance subsidiaries have been subpoenaed by New York Attorney General Eliot Spitzer about market timing and late trading. The company has admitted the US Securities and Exchange Commission has also requested information about its variable annuity products as well as operations on market timing, late trading and revenue sharing. The subpoenas and information requests were disclosed in annual reports filed with the SEC.