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LME agrees settlement with Citigroup Global Markets with a penalty of $62,875

Published 09/06/2023, 15:09
Updated 09/06/2023, 15:14
© Reuters. FILE PHOTO: Traders work on the floor of the London Metal Exchange in London, Britain, September 27, 2018. REUTERS/Simon Dawson/File Photo

© Reuters. FILE PHOTO: Traders work on the floor of the London Metal Exchange in London, Britain, September 27, 2018. REUTERS/Simon Dawson/File Photo

LONDON (Reuters) - The London Metals Exchange (LME) said on Friday that it agreed a settlement with Citigroup (NYSE:C) Global Markets Limited in which the bank would pay a financial penalty of 50,000 pounds ($62,875).

© Reuters. FILE PHOTO: Traders work on the floor of the London Metal Exchange in London, Britain, September 27, 2018. REUTERS/Simon Dawson/File Photo

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)

 

 

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