NEW YORK (Reuters) - The U.S. Commodity Futures Trading Commission said it has fined Citigroup Inc (N:C) $4.5 million for supervision failures that led to the deletion of subpoenaed audio recordings.
In a statement on Monday, the regulator said a design flaw in Citigroup's audio preservation system led to the deletion of more than 2.77 million audio files, including some responsive to a 2017 subpoena that the bank had assured were being preserved.
The CFTC said the civil fine was imposed against three Citigroup affiliates: Citibank NA, Citigroup Energy Inc and Citigroup Global Markets Inc.