The Financial Services Authority (FSA) will not charge Citigroup with market manipulation for a controversial government bond trade last year but will fine it over control failures, a source told Reuters on Friday.
A source close to the matter said the FSA was close to wrapping up its investigation and had communicated its findings to Citigroup (C.N: Quote, Profile, Research) , the world's largest financial services company.
The U.S. bank had agreed to the outcome of the findings into its massive government bond sale last August that caused wild swings in the market and consternation among traders, the source added.
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