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Federal Reserve Board ends currency trading-tied enforcement action on Citigroup
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investing.com(Reuters) -The Federal Reserve Board on Thursday ended the enforcement action on Citigroup from 20 15 that required the lender to revamp its risk management practices, sending the shares of the lender up 2.1% in morning trading.
The lender had pleaded guilty to violation of U.S. antitrust laws over manipulation of foreign exchange rates.
«Citigroup has adopted a firm-wide risk management, compliance and audit program designed to identify and manage risks across the consolidated organization,» the board said.
Citi did not immediately respond to a Reuters request for comment.
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