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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.

A construction crane stands above scaffolding near the offices of Citigroup Inc. in London.

Photographer: Chris Ratcliffe/Bloomberg
Updated on

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.