President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
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July 29 (Reuters) - The Financial Industry Regulatory Authority said on Monday it has fined Citigroup's Global Markets business $1.25 million for failing to perform proper background checks on thousands of employees between 2010 and 2017.
According to the regulator, the New York-based bank did not conduct "timely or adequate" background checks for roughly 10,400 non-registered employees. As a result, it said, the bank employed at least three individuals with criminal histories, in violation of regulatory requirements.
FINRA requires most employees at the broker-dealer firms it regulates to be finger-printed and screened for past criminal history regardless of whether the employee will be registered with FINRA to be involved in investment decisions.
Citigroup Global Markets Inc is a member of FINRA and self-reported the issue to the regulator.
While Citi had strict procedures in place to screen employees who were registered or intended to become registered, the bank had looser procedures for non-registered employees, FINRA found.
Citi, the third-largest U.S. bank by assets, neither admitted nor denied the charges. A Citi representative said the bank is pleased to have the matter resolved. (Reporting by Imani Moise; Editing by David Gregorio and Dan Grebler)