Citibank was fined $79 million by British regulators for indirect trading and control errors

People walk past the CitiBank location in Manhattan on March 01, 2024 in New York City.

Spencer Platt | Getty Images

LONDON – British regulators on Wednesday imposed fines totaling 61.6 million pounds ($79 million) on US investment bank Citi over failures in trading systems and controls.

The fines were issued by the Prudential Regulation Authority and the Financial Conduct Authority, whose investigation focused on the period between 1 April 2018 and 31 May 2022. Citi qualified for a 30% reduction in the penalty amount after agreeing to the resolution. Subject.

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