Latest Citigroup Corporate and Investment Bank News: Finextra Research

Citi under investigation by US federal agencies over Russian oligarch ties – Barron’s

Citigroup is facing investigation from a number of US government agencies for its connections to sanctioned Russian billionaire Suleiman Abusaidovich Kerimov.

15 November 2024

/regulation

Citi spins off proxy voting platform to industry consortium

Citigroup is spinning off its electronic proxy voting platform Proximity to a consortium of banks who are backing the new venture with $20.5 million in fresh capital.

05 May 2020

/regulation

Citi to develop AI-based trade finance compliance platform

Citi is working with EY and SAS to on the development of an AI-based risk analytics scoring engine to provide more context and usable data to aid decision makers in reviewing trade transactions.

30 April 2019

/regulation

CLS, IBM and nine banks to build blockchain marketplace

Foreign exchange settlement house CLS is collaborating with nine banks and IBM to build a shared marketplace platform - or app-store - for multiple blockchain applications.

30 July 2018

/regulation

Computer coding error costs Citigroup $7 million

The US Securities and Exchange Commission has slapped a $7 million fine on Citigroup to settle charges that a computer coding error caused the firm to provide the agency with incomplete 'blue sheet' information about trades it executed.

14 July 2016

/regulation

Major banks perform successful test of smart contracts in CDS market

Four major banks, the DTCC and Markit have announced the completion of a successful test of the use of distributed ledger technology and smart contracts to manage post-trade processes in the credit default swaps market.

07 April 2016

/regulation

Swift signs major banks to KYC Registry

Interbank messaging network Swift has recruited a group of major banks to help develop its centralised KYC utility for the collection and distribution of standard information required by banks as part of their due diligence processes.

04 March 2014

/regulation

Barclays, RBS and Citi ban traders from chat rooms - FT

Barclays, The Royal Bank of Scotland and Citigroup have banned traders from using chat rooms in the wake of a series of scandals over manipulation of bank interest rates, according to the Financial Times.

22 November 2013

/regulation

Citigroup fined for fat-finger trade that floored stock price

Citigroup has been fined $30,000 by Australian securities regulators for a fat-finger trading error which caused the share price of a stock to plunge by 99%.

28 August 2012

/regulation

Citi exec charged with $19 million wire fraud

A former Citigroup executive has been charged with stealing $19 million from the bank in a swindle described by the FBI as the 'ultimate inside job'.

28 June 2011

/regulation

Currency players combine to manage 'flash crash' risks

The world's leading foreign exchange dealers and trading platforms are collaborating on an industry-wide initiative to reduce the risk of an algorithmic-led 'flash crash' hitting the global currency markets.

27 June 2011

/regulation

Finextra Dinner Club: Turning compliance into a competitive edge

The next meeting of the Finextra Dinner Club will focus on critical compliance issues for banks and feature presentations from Nicholas Child, MD and director of compliance at Citi, Simon Gleeson, partner in the financial services practice of Clifford Chance and Keith Saxton, director, global banking and financial markets for IBM.

15 April 2011

Latest news