March 22, 2018 / 3:49 PM / 4 months ago

BRIEF-Citigroup Announces New U.S. Commercial Firearms Policy

March 22 (Reuters) - Citigroup Inc:

* ANNOUNCES A NEW U.S. COMMERCIAL FIREARMS POLICY

* FIREARMS POLICY WILL APPLY ACROSS FIRM, INCLUDING SMALL BUSINESS, COMMERCIAL & INSTITUTIONAL CLIENTS, CREDIT CARD PARTNERS ‍​

* NEW U.S. COMMERCIAL FIREARMS POLICY “PROMOTES THE ADOPTION OF CURRENT BEST PRACTICES REGARDING THE SALE OF FIREARMS”‍​

* WILL REQUIRE NEW RETAIL SECTOR CLIENTS NOT TO SELL FIREARMS TO SOMEONE WHO HASN’T PASSED A BACKGROUND CHECK‍​

* WILL REQUIRE NEW RETAIL SECTOR CLIENTS RESTRICT THE SALE OF FIREARMS FOR INDIVIDUALS UNDER 21 YEARS OF AGE

* WILL REQUIRE NEW RETAIL SECTOR CLIENTS NOT TO SELL BUMP STOCKS OR HIGH-CAPACITY MAGAZINES

* UNDER NEW FIREARMS POLICY, WILL REQUIRE NEW RETAIL SECTOR CLIENTS OR PARTNERS TO ADHERE TO SOME “BEST PRACTICES”

* WILL BE INITIATING DUE DILIGENCE CONVERSATIONS WITH COMPANIES MANUFACTURING FIREARMS TO BETTER UNDERSTAND PRODUCTS THEY MAKE, AMONG OTHER THINGS ‍​

* WILL APPLY DUE DILIGENCE SCREENING TO POTENTIAL CLIENTS GOING FORWARD‍​ Source text: (citi.us/2FVnjJj) Further company coverage:

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