News

Citi becomes latest bank to say gov'ts are looking into trading on foreign exchange markets

NEW YORK, N.Y. – Citigroup says U.S. government agencies and other regulators are investigating the company’s trading on foreign exchange markets.

Citigroup says it has received requests for information and is co-operating with the investigations and responding to those requests.

The inquiries were disclosed in the bank’s quarterly 10-Q report. It makes Citi just the latest bank to have authorities look into its foreign exchange practices. JPMorgan Chase & Co. disclosed a similar inquiry Friday, and Barclays PLC and UBS AG revealed that they were the targets of investigations on Wednesday.

Shares of Citigroup Inc. lost 8 cents to $48.70 in morning trading.