trending Market Intelligence /marketintelligence/en/news-insights/trending/-ZIWJMmfxhENSzaOqBlOTw2 content esgSubNav
In This List

Japan regulator recommends Citi pay ¥133M fine for bond futures manipulation

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Banks’ Response to Rising Rates & Liquidity Concerns


Japan regulator recommends Citi pay ¥133M fine for bond futures manipulation

Japan's Securities and Exchange Surveillance Commission recommended that a ¥133.4 million penalty be imposed on Citigroup Global Markets Ltd. for manipulating 10-year government bond futures, which were listed on the Osaka Exchange Inc.

The securities regulator found that on Oct. 26 and 27, 2018, and Oct. 29 and Oct. 30, 2018, a Citigroup Global Markets employee placed spoof orders for bond futures, which misled investors about the securities' value and caused fluctuations in the market. Citigroup Global Markets is a London-based unit of Citigroup Inc.

The Securities and Exchange Surveillance Commission made its recommendation to the prime minister and the commissioner of the financial services agency.

As of March 25, US$1 was equivalent to ¥110.11.