Basic Search  |  Summaries  |  Advanced SearchPenalty: £27,766,200
Year: 2024
Date: 22 May, 2024
Offence Group: financial offences
Offence Type: internal controls deficiency
Violation Description: Citigroup was fined £27,766,200 by the FCA and £33,880,000 by the Prudential Regulation Authority for systems failures that allowed an input error to a trading algorithm to trade $189 billion of equities in European markets instead of the intended $58 million, risking disorder in the market.
Settlement Type: Settlement with FCA
Agency: Financial Conduct Authority
HQ Country of Parent: United States
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking & securities
Source of Data: (click here)