All posts tagged "Citigroup"
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556Capital RegulationChina Further Opens Banking, Insurance Sectors to Foreign FIs
Effective immediately, foreign financial institutions can establish wholly-owned banks in China, which can be operated alongside foreign bank branches and Sino-foreign joint venture banks.
October 17, 2019 -
311ChinaPBOC Reforms Interest Rate Setting Mechanism
The new market-oriented mechanism for calculating the Loan Prime Rate is expected to lower the cost of borrowing nationwide.
August 19, 2019 -
598EnforcementFive Major Banks Face UK Class Action in FX Rigging Case
The class action, estimated to be worth more than $1.2bn for trades executed in the UK, follows a similar-size fine levied against the banks by the European Commission in May.
July 31, 2019 -
804Australia & NZANZ, Citi, Deutsche to Defend Against Criminal Cartel Charges in September
The government accuses the banks of forming a criminal cartel to either “directly or indirectly” restrict the supply of ANZ shares or maintain the price of ANZ shares.
July 12, 2019 -
632Australia & NZASIC Review Finds Widespread Mis-selling of Consumer Credit Insurance
ASIC plans to take "significant enforcement action" against 11 lenders that inappropriately sold consumer credit insurance, and force remediation of over A$100m.
July 12, 2019 -
845ChinaChina to Remove Foreign Ownership Limits a Year Early
Premier Li Keqiang said at the World Economic Forum in Dalian that foreign ownership limits in the financial sector will end in 2020, ahead of schedule.
July 3, 2019 -
1.2KFeatureSingapore Bourse Pushes into Foreign Exchange Market
SGX wants to reduce its reliance on equity index derivatives by aggressively pushing into the FX markets over the next five years.
June 12, 2019 -
842EnforcementUPDATED – Citigroup Japan Fined, Ordered to Improve Internal Controls
Having failed to detect after hours spoofing by a London trader, Citigroup Global Markets Japan has been fined, ordered to improve its controls, and suspended from participating in JGB auctions.
June 10, 2019 -
780EnforcementSwitzerland Fines Five Global Banks Involved in FX Trading Cartel
Adding to the European Commission's $1.2bn fine last month, Citigroup, Barclays, RBS, JP Morgan and MUFG have been fined $91mn by the Swiss Competition Commission.
June 10, 2019 -
1.2KEnforcementEuropean Commission Fines Five Banks Involved in FX Trading Cartel
Individual traders at Citigroup, Barclays, RBS, JP Morgan and MUFG exchanged sensitive information and coordinated spot FX trading strategies through online chatrooms.
May 20, 2019
