This article is more than 9 month old.

Feds fine Citigroup $400 million over faulty risk management

Mini

Citigroup has agreed to pay a USD 400 million fine imposed by US regulators for failing to shore up the bank's operations. The Office of the Comptroller of the Currency said Wednesday that the civil penalty is in response to shortcomings in the New York bank's risk management, internal controls and data governance programmes.

Feds fine Citigroup $400 million over faulty risk management
Citigroup has agreed to pay a USD 400 million fine imposed by US regulators for failing to shore up the bank's operations. The Office of the Comptroller of the Currency said Wednesday that the civil penalty is in response to shortcomings in the New York bank's risk management, internal controls and data governance programmes.
The move follows a settlement agreement between Citigroup and the Federal Reserve's board of governors that calls for the bank to address significant ongoing deficiencies in how it has responded to prior orders for it to fix its bank management protocols, including its anti-money laundering compliance program. Citigroup issued a statement saying it is committed to addressing regulators' complaints and is working on ways to strengthen its internal controls, infrastructure and governance. (AP) .

Market Movers

CompanyPriceChng%Chng
Maruti Suzuki6,993.50 -171.55 -2.39
Power Grid Corp167.40 -3.68 -2.15
ITC206.05 -3.05 -1.46
Bajaj Auto3,763.75 -54.75 -1.43
Coal India142.15 -1.90 -1.32
CompanyPriceChng%Chng
Maruti Suzuki6,991.90 -158.30 -2.21
Power Grid Corp167.40 -3.65 -2.13
Bajaj Auto3,762.80 -57.70 -1.51
ITC206.00 -3.15 -1.51
Dr Reddys Labs4,671.05 -59.15 -1.25
CompanyPriceChng%Chng
Maruti Suzuki6,993.50 -171.55 -2.39
Power Grid Corp167.40 -3.68 -2.15
ITC206.05 -3.05 -1.46
Bajaj Auto3,763.75 -54.75 -1.43
Coal India142.15 -1.90 -1.32
CompanyPriceChng%Chng
Maruti Suzuki6,991.90 -158.30 -2.21
Power Grid Corp167.40 -3.65 -2.13
Bajaj Auto3,762.80 -57.70 -1.51
ITC206.00 -3.15 -1.51
Dr Reddys Labs4,671.05 -59.15 -1.25

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.2850-0.0900-0.12
Euro-Rupee88.1960-0.0150-0.02
Pound-Rupee103.59100.06500.06
Rupee-100 Yen0.67680.00020.03