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HONG KONG (Reuters) – Hong Kong market watchdog has been fined Citigroup (NYSE 🙂 unit called $ 348.25 million ($ 44.68 million) for serious regulatory misconduct on customer facilitation activities, the fault of which was attributed to the bank’s former senior management.
The Securities and Futures Commission said Citigroup Global Markets Asia Limited has authorized trading tables under its Cash Equities business to provide institutional clients with ease-of-business transactions from 2008 to 2018.
“This resolves an issue related to the activities of Citigroup Global Markets Asia Limited in 2018. We have fully cooperated with SFC’s investigation and implemented important corrective measures to strengthen our compliance and internal controls,” a Citi spokesman said in an email. .
($ 1 = 7.7940 Hong Kong dollars)
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