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City of London

Citi Fined £13 Million Over Struggles to Monitor UK Trades

  • FCA says Citigroup failed to implement market abuse controls
  • Penalty discounted after Citigroup agreed to resolve the case
Citigroup offices in Canary Wharf, London.

Citigroup offices in Canary Wharf, London.

Photographer: Chris Ratcliffe/Bloomberg
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In 2017, after Citigroup Inc. had paid billions of dollars in fines for rigging interest rates, manipulating currency markets and selling shoddy mortgage bonds, the Wall Street giant was still struggling to keep tabs on some trades in London.