This case raises the question whether the recipients of an accidental Citi payment of $500 million must return the payment.
Citi intends to move for summary judgment dismissing the complaint brought by former FX trader Rohan Ramchandani.
The FCA imposed £12.6 million fine on Citigroup Global Markets Limited for failures relating to the detection of market abuse.
Major banks face another complaint accusing them of collusion to manipulate the London InterBank Offered Rate (LIBOR).
Citi reports ICG revenues of $11.4 billion, up 20% from a year earlier, driven by Services and Markets.
HSBC, Barclays, JPMorgan Chase, NatWest Markets, UBS, BofA, and Citi push for summary judgment in their favor.
The funding round was led by Broadridge, LiquidX’s largest strategic investor.
Citi’s Institutional Clients Group reported Markets revenues of $5.8 billion, down 2% versus a strong quarter in the prior year.
Former Citi Forex trader Rohan Ramchandani pushes for an order compelling Citi to comply with its document discovery obligations.
In a letter filed with the Court on March 18, 2022, Citi says that the former Forex trader is belatedly manufacturing discovery disputes.