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Asset manager fined over failure to put in adequate fixed income controls

Money On Hook

The Financial Conduct Authority (FCA) has fined Threadneedle Asset Management Limited (TAML) £6,038,504 ($9.03m) for failing to put in place adequate controls in the fixed income area of its front office, and for providing inaccurate information to the regulator and for failing to correct the inaccurate representation for four months.

Citigroup's efforts to control Mexican unit rebuffed

Sombrero

Efforts by Citigroup senior executives to tighten controls in Mexico were rebuffed by managers there for at least five years before the U.S. bank found the local unit had suffered a $400m loan fraud last month, four people with direct knowledge of the matter said.

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