Citigroup ‘Source’ Communicated With Wealthy Trader, FCA Says
- U.K. FCA investigation disclosed at trial of ex-UBS official
- FCA says employee spoke with Alshair Fiyaz’s intermediary
A construction crane stands above scaffolding near the offices of Citigroup Inc. in London.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
The U.K. financial regulator said it investigated claims that an employee at Citigroup Inc. with access to “price-sensitive information” communicated with a wealthy trader on the periphery of a London insider-trading trial.
The Financial Conduct Authority said that the Citigroup employee, which it called a “source,” spoke with an intermediary of Alshair Fiyaz. The FCA said the contacts were backed up by “limited telephone contact” in 2015 and 2017.