The Prudential Regulation Authority (PRA) has fined Citigroup Global Markets Limited (CGML) £33,880,000 for failings in its trading systems and controls during the relevant period of investigation, being between 1 April 2018 and 31 May 2022.
The Prudential Regulation Authority (PRA) has fined Citigroup Global Markets Limited (CGML) £33,880,000 for failings in its trading systems and controls during the relevant period of investigation, being between 1 April 2018 and 31 May 2022.
The Financial Conduct Authority (FCA) has also imposed a financial penalty of £27,766,200 on CGML following an FCA investigation into related matters. The two regulators’ investigations, conducted in parallel, have resulted in a combined total financial penalty of £61,600,000.
The Firm agreed to resolve this matter, and therefore qualified for a 30% reduction in the amount of the financial penalty. Without this reduction, the amount of the financial penalty imposed by the PRA would have been £48,400,
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