The Securities and Exchange Commission has subpoenaed some former Citigroup brokers as the regulator looks into the bank's soured debt funds, which invested in mortgage debt and municipal bonds. The value of the funds fell roughly 77% after the mortgage market meltdown. A few brokers who worked for Smith Barney, which was then a division of Citigroup, said that the funds' risks had not been adequately disclosed, sources said.

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