简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Citigroup Global Markets breached Article 16(2) of MAR, FCA's Principles for Businesses. The institutional brokerage firm has agreed to resolve the case, FCA says.
United Kingdom's Financial Conduct Authority (FCA) has fined Citigroup Global Markets, an indirect subsidiary of Citigroup Inc., £12,553,800 for breaching the Market Abuse Regulation (MAR) trade surveillance requirements relating to the detection of market abuse.
Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments.
FCA, which announced the fine on Friday in a statement, said the institutional brokerage services company failed to properly implement the regulation.
As a result, the broker breached Article 16(2) of MAR and Principle 2 of the FCAs Principles for Businesses, the regulator added.
While Article 16(2) requires organizations involved in arranging or executing transactions in financial instruments to establish and maintain effective arrangements, systems, and procedures to detect and report potential market abuse, Principle 2 demands that “a firm must conduct its business with due skill, care, and diligence.”
“By failing to properly implement the MAR trade surveillance requirements, Citigroup Global Markets could not effectively monitor its trading activities for certain types of insider dealing and market manipulation,” FCA explained.
The watchdog further explained that Citigroup Global Markets flawed execution opened up gaps in its arrangements, systems, and procedures for additional trade surveillance.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Bitcoin and crypto prices plummet as recession fears and inflation warnings shake markets. Experts warn of prolonged economic challenges ahead.
WikiFX, as a globally leading forex investment ecosystem service platform, has always been committed to providing fair and authoritative broker verification services for forex investors, while offering solid rights protection support for every victim of forex investment. On February 26, 2025, WikiFX once again launched its annual "3·15 Forex Rights Protection Day" event, aiming to empower forex investors to speak out and defend their rights through open, transparent, and robust means.
Nigeria’s oil and gas industry is experiencing a surge in investment, fueled by policy reforms and international collaboration, paving the way for continued energy expansion.
The global trade war is intensifying as countries continue to raise tariffs, aiming to protect their own economies while creating greater market uncertainty. In this tit-for-tat game, who is truly bearing the brunt?