PRA fines Citigroup’s UK operations £44 million for failings in their regulatory reporting governance and controls

PRA fines Citigroup’s UK operations £44 million for failings in their regulatory reporting governance and controls

PRA fines Citigroup’s UK operations £44 million for failings in their regulatory reporting governance and controls

The PRA has imposed a combined financial penalty on Citigroup Global Markets Limited, Citibank N.A. London branch and Citibank Europe Plc UK branch of £43.9 million for failings in relation to their internal controls and governance arrangements underpinning compliance with PRA regulatory reporting requirements.

Full article:
https://www.bankofengland.co.uk/news/2019/november/pra-fines-citigroups-uk-operations-44-million-for-failings

Press release:
https://www.bankofengland.co.uk/-/media/boe/files/news/2019/november/pra-fines-citigroups-uk-operations-44million.pdf?la=en&hash=5563730822D0D84D5717801180C6261A687B4D61

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