Citigroup Inc is expected to be fined $600,000 by the Financial Industry Regulatory Authority over derivatives transactions that helped foreign clients avoid taxes on dividends, the Financial Times reported on its website on Sunday.

The fine against Citigroup Global Markets is expected to be announced on Monday, the paper said.

A Citigroup representative was not immediately available for comment.

FINRA could not be immediately reached for comment.

(Reporting by Paritosh Bansal; Editing by Jan Paschal)