Two U.K. regulators, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), announced this morning that they have leveled fines totaling $78.5 million against Citigroup’s European trading arm, Citigroup Global Markets Ltd. (CGML). See here and here. The fines relate to a $300 billion flash crash in European stock markets on May 2, 2022.