Citigroup faces another major whammy in Japan

Will the group's investment trusts cause its third major punishment in Japan in 7 years?

According to a Reuters report, Japan's Financial Services Agency is probing whether Citigroup failed to offer sufficient explanations to customers about investment trusts.

Citigroup is being investigated by Japanese regulators for possible infractions related to its marketing of financial products and could face its third major punishment in Japan in 7 years, a source with knowledge of the matter said in the report.

The FSA also probes if Citigroup had enough measures against money laundering.

View the full report here.