UK Fines Citigroup £44M For Reporting Failures

Law360, London (November 26, 2019, 11:36 AM GMT) -- The Bank of England’s regulatory arm said Tuesday that it has hit Citigroup’s U.K. operations with a fine of £43.9 million ($56.5 million), its highest ever, for regulatory failings between 2014 and 2018.

The Prudential Regulation Authority said it has fined Citigroup’s U.K. operations £44 million ($56.6 million) after it found failings in their internal controls and governance. (AP) The Prudential Regulation Authority said it has fined Citigroup Global Markets Ltd., Citibank N.A. London Branch and Citibank Europe PLC UK after it uncovered failings in their internal controls and governance between June 2014 and the end of December 2018. The weaknesses...

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