Citi Faces $1.2M Fine Over Japan 'Spoofing' Allegations

Law360, London (March 26, 2019, 12:20 PM GMT) -- Japan's financial watchdog said Tuesday it has recommended that a British unit of Citigroup Inc. should be fined 133 million yen ($1.2 million) for allegedly manipulating prices in the Japanese government bond futures market.

Japan's Securities and Exchange Surveillance Commission is alleging that a British unit of Citigroup Inc. manipulated prices in the Japanese government bond futures market. (AP) The Securities and Exchange Surveillance Commission claims a U.K.-based employee of Citigroup Global Markets Ltd. — the broker-dealer subsidiary of Citi — placed large volumes of buy-and-sell orders for 10-year futures in the bonds on the Osaka Exchange, but had no intention...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!