Citigroup has been fined nearly 13 million euros ($13.94 million) by Germany's bank regulator for lapses in controls of its trading systems, the largest fine imposed under the regulator's consumer protection division.

The fine was announced by German regulator BaFin on Thursday and targeted at Citigroup Global Markets Europe AG.

It is related to a mishap in 2022 involving $1.4 billion in mistaken sell orders in equities, for which Citigroup was already

fined 61.6 million pounds

($78.24 million) by British authorities in May.

Citigroup in Germany said that it had taken "steps to strengthen our systems and controls, and remains committed to ensuring full regulatory compliance".

"We are pleased to resolve this matter from more than two years ago, which arose from an individual error that was identified and corrected within minutes," Citigroup said. ($1 = 0.9325 euros) ($1 = 0.7873 pounds) (Reporting by Tom Sims and Alexander Huebner, Editing by Madeline Chambers)