LME agrees settlement with Citigroup Global Markets with a penalty of $62,875
LONDON, June 9 (Reuters) - The London Metals Exchange (LME) said on Friday that it agreed a settlement with Citigroup Global Markets Limited in which the bank would pay a financial penalty of 50,000 pounds ($62,875).
The exchange, the world's oldest and largest market for industrial metals, said the settlement was agreed after an investigation by the LME after this category 2 member submitted duplicate commodity position report files on two separate occasions in April 2022.
($1 = 0.7952 pounds)
Reporting by Polina Devitt; editing by Louise Heavens
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.