Aug 21 (Reuters) - Citigroup's ( C/PN ) addition of a new

section concerning its multi-year reorganization to its

quarterly report filed with the U.S. Securities and Exchange

Commission in August, followed queries from the markets

regulator.

The SEC's letter to Citi, which was sent in June and

disclosed on Wednesday, had asked the bank to revise future

filings.

In July, U.S. bank regulators fined Citi $136 million for

making "insufficient progress" fixing data management issues

identified in 2020 and required the bank to demonstrate that it

was making sufficient efforts.

"This new section will discuss Citi's broader transformation

efforts, which also include efforts to implement the October 7,

2020 FRB and OCC consent orders," the lender had responded to

SEC in a letter on July 10, which was disclosed on Wednesday.

Citi CEO Jane Fraser is carrying out a sweeping overhaul in

an effort to improve the bank's performance, cut costs and

simplify its sprawling businesses.

As part of the turnaround, Citi aims to shrink its workforce

by 20,000 over the next two years.

"Despite making good progress in simplifying our firm and

addressing our consent orders, there are areas where we have not

made progress quickly enough," Fraser had said after the

regulatory action was disclosed.

The bank also added a section discussing the 2024 consent

orders to its second quarter report, as part of its efforts to

enhance regulatory disclosures.