"Citigroup failed to make required conflict of interest disclosures, which prevented investors from being aware of potential biases in its research recommendation," Finra Enforcement Chief Brad Bennett said in a statement. "Firms need to provide investors with full and accurate information so they will be able to take it into consideration before making an investment decision." Finra said the disclosures by the bank's brokerage subsidiary, Citigroup Global Markets, were missed primarily due to technical deficiencies in Citigroup's database for identifying and creating the disclosures. Citigroup, which didn't admit or deny Finra's claims, self-reported several of the deficiencies to the regulator and took remedial action to fix them, Finra said. "We take our disclosure systems very seriously and began adopting enhancements to our procedures prior to the inquiry," Citigroup spokeswoman Sophia Stewart said in an e-mailed statement. "We are pleased to have settled this matter with Finra." Bloomberg News--