Citigroup’s Travelers Subpoenaed by Spitzer

Citigroup Inc.’s Travelers Life & Annuity Co. said Monday that it had received a subpoena from New York Atty. Gen. Eliot Spitzer and a request for information from the Securities and Exchange Commission about improper mutual fund trading.

Travelers Life also said the federal regulator had asked it about its variable insurance product operations. The regulators are probing market-timing and late-trading allegations.

From Bloomberg News