November 26, 2019 / 11:12 AM / 17 days ago

Bank of England fines Citigroup 44 mln pounds for regulatory failures

LONDON, Nov 26 (Reuters) - The Bank of England fined Citigroup 43.9 million pounds ($56.3 million) on Tuesday, saying the U.S. banking group’s British operations failed to provide accurate regulatory returns to the BoE between 2014 and 2018.

“While Citi remained in surplus to its liquidity and capital requirements at all times, the failings persisted over a significant length of time and were serious and widespread in nature,” the BoE said. ($1 = 0.7794 pounds) (Reporting by David Milliken Editing by William Schomberg)

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