Citigroup fined $79M by UK regulators over ‘fat-finger’ failures
British regulators have fined Citigroup 61.6 million pounds ($78.5 million) for mismanagement in its trading operations, one of the biggest sanctions for a systems breach that helped the Wall Street firm cause a sharp drop in European stocks. The Prudential Regulation Authority (PRA) and market watchdog Financial Conduct Authority (FCA) have both investigated and fined […]
Fat-finger trade? Citigroup fined for nearly dumping $189 billion of stocks by accident – CNN
Leon Neal/Getty Images Citigroup’s London office, photographed in January 2024. London CNN — British regulators on Wednesday accused Citigroup of a total of 62 million pounds ($79 million) after a failure in its trading systems threatened to dump $189 billion worth of shares into European markets. fined. The Financial Conduct Authority (FCA)C) Meanwhile, the Bank […]