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Citi Fined £12.6 Million by UK for Trading Surveillance Failings

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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