Citigroup fined $15mln for failures over market abuse rules

Reuters Images/Shannon Stapleton

By not fully implementing the new provisions when required, Citigroup Global Markets did not carry its full weight in this partnership, impacting market integrity and the overall detection of market abuse: FCA's executive director

Huw Jones, Reuters News

August 19, 2022

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LONDON - Britain's Financial Conduct Authority said on Friday it has fined Citigroup Global Markets 12.5 million pounds ($14.8 million) for failing to properly apply rules aimed at stamping out market abuses.

"By not fully implementing the new provisions when required, Citigroup Global Markets did not carry its full weight in this partnership, impacting market integrity and the overall detection of market abuse," Mark Steward, the FCA's executive director for enforcement, said in a statement.

($1 = 0.8410 pounds)

(Reporting by Huw Jones; editing by Jason Neely)

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