Citi's £14m rap from FSA

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The Financial Services Authority (FSA) punished Citigroup in June with a £14 million fine – the largest the FSA has ever levied on a bank – for disrupting trading on the MTS eurozone bond platform last August. The FSA found that the bank failed to conduct its business with "due skill, care and diligence" and did not implement adequate risk management systems. However the FSA decided that Citigroup did not deliberately set out to disrupt the platform, nor did it deem the bank had been reckles

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