Business

Citi Fined £12.6 Million by UK for Trading Surveillance Failings

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Citigroup, home to one of the world’s biggest investment banks, is already under pressure to improve its controls. The Bank of England hit the New York-based lender with a record £44 million fine in 2019 for years of inaccurate reporting about its capital and liquidity levels, while U.S. regulators doled out a $400 million fine in 2020 for persistent problems with risk management. 



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