Citigroup Inc. has received a Wells notice from the Securities and Exchange Commission related to dealings at its mutual fund arm, Smith Barney, the company announced, The Wall Street Journal reports.

Back in November, Citigroup admitted to regulators that an agreement to erect an internal transfer-agent wing was not disclosed to the company’s own mutual funds. To correct the problem, it said it would pay $17 million back to the funds.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.