Trending: Citigroup Fined in U.K. Over $1.4 Billion Trading Error
14:12 ET -- Citigroup is one of the most mentioned companies in the U.S. across all news items in the past 12 hours, according to Factiva data. Citi's Global Markets subsidiary was fined 61.6 million pounds ($78.3 million) by the Bank of England and the U.K. Financial Conduct Authority after failings in its systems and controls led to $1.4 billion of equities being sold in error between 2018 and 2022. British regulators said the error was caused by a system design, which allowed a trader to manually override a pop-up alert. It also called the company's real-time monitoring ineffective. Citi said it has taken steps to strengthen its systems and controls. Dow Jones & Co. owns Factiva. (jennifer.tershak@wsj.com)
(END) Dow Jones Newswires
May 22, 2024 14:27 ET (18:27 GMT)
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