Compliance failures cited by FCA in £12.5m fine on Citigroup Global Markets

By Neasa MacErlean

Major failures by the Compliance function have been highlighted by the FCA in fining Citigroup’s international broker-dealer £12.5 million for failing to implement the 2016 Market Abuse Regulation (MAR) properly. Senior leaders involved in the inadequate monitoring have subsequently moved position, says the regulator.