Citigroup Could have been worse

The line between aggressive trading and market manipulation is often a fine one. It is now official that Citigroup did not cross it in its August 2004 attack on the pricing inefficiencies of MTS trading platform for eurozone government bonds. True, the bank has agreed to disgorge the £10m it earned through the strategy, plus pay a £4m fine for lack of care and control. But the UK Financial Services Authority did not charge the giant bank with market abuse. That follows the decision earlier in Ju...