UK regulators fined Citigroup £61.6m for trading system failures and breaches, including a $1.4bn error in May 2022.
UK regulators fined Citigroup £61.6m ($79m) for trading system failures and control breaches, with an incident in May 2022 causing $1.4bn to be executed on European exchanges due to a trader's input error. The Prudential Regulation Authority and the Financial Conduct Authority investigated Citigroup Global Markets Limited's activities between April 2018 and May 2022, finding deficiencies in trading controls and ineffective monitoring.
May 22, 2024
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