Citigroup Inc’s markets operation had hundreds of blind spots, allowing for potentially abusive transactions to go unnoticed in almost 900,000 trades processed every day at the bank’s Canary Wharf headquarters for more than two years. Internal compliance teams found that their surveillance systems missed almost half of the second-most serious category of trading risk, the UK’s Financial Conduct Authority said as it imposed a £12.6mn ($15mn) penalty. Officials couldn’t effectively monitor trading activities for potential insider dealing and spoofing until early 2018, the FCA said. The penalty comes after Citigroup, home to one of the world’s biggest investment banks, faced pressure from watc
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