Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Regulators are preparing to blame Citigroup for failing to improve risk systems

Regulators are preparing to blame Citigroup for failing to improve risk systems



Federal regulators are preparing to reprimand Citigroup Inc. for failing to improve its risk management systems – an extensive set of technologies and procedures designed to detect problematic transactions, risky transactions and anything else that could harm the bank.

The expected reprimand from the Office of the Currency Controller and the Federal Reserve has accelerated the retirement planning of CEO Michael Korbat, according to sources. The regulators did not ask Mr. Korbat to resign, the people …


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