A U.K. regulator, the Financial Conduct Authority (FCA), has imposed a fine of $14.8 million (£12,553,800) upon Citigroup’s international broker-dealer subsidiary for breaches of the Market Abuse Regulation (MAR), a law that requires firms to monitor orders and trades to detect potential market manipulation. The FCA charged the London-based Citigroup Global Markets Ltd. (CGML) with… Read More >>
Has Your Firm Been ‘Spoofed?’
(Editor’s Note: Digital Age market manipulation via practices known as “spoofing” and “layering” are hitting home for many firms and regulators are beginning to take notice. For instance, the Financial Industry Regulatory Authority (FINRA) and major exchange companies recently alleged that the broker-dealer, Lek Securities, and its CEO facilitated acts of layering, spoofing and cross-product… Read More >>
