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Citi fined after $1.4bn of equities sold in error

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Citi has been fined more than £60m by regulators after a trading error led to more than $1bn worth of stock being accidentally sold.

A Citi trader accidentally created a $444bn basket of equities instead of a $58m one in May 2022.

Trader created a $444bn basket by mistake, but the bank’s controls still let some sales through

Justin Cash

Currencies

Financial Regulation

Investing

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The appointment rewards the executive who led the bank back from a scandal involving the creation of millions of fake customer accounts.

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The New York investment firm posted a profit of $472.4 million, compared with $667.9 million a year earlier.

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