CitiGroup fined Euro 62 million over 2022 trading blunder case
London [UK], May 22 (ANI): The Financial Conduct Authority (FCA) has fined brokerage Citigroup Global Markets Limited (CGML) worth about Euro (Pound ) 61.6 million, for a failure in the firm's systems and controls back in 2022.
The system failure in the firm led to USD 1.4 billion of equities being sold in European markets when they should not have been.
On May 2, 2022, a Citigroup trader had intended to sell a basket of