A list of fines incurred by Citadel Securities and Citadel Advisors for market manipulation
Citadel market manipulation

Citadel securities violations and fines
US regulatory fines:
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In 2007, Citadel Securities was fined $22,500 by FINRA for failing to properly report short interest positions.
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In 2009, Citadel Securities was fined $3 million by the SEC for allegedly engaging in improper trading practices that artificially impacted the price of securities.
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In 2014, the US Securities and Exchange Commission (SEC) fined Citadel Securities $800,000 for allegedly violating the market access rule, which requires firms to have adequate risk controls and supervisory procedures in place when providing direct market access to customers.
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In 2015, Citadel Securities was fined $800,000 by the SEC for violating the Market Access Rule.
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In 2015, Citadel Securities was fined $1.5 million by FINRA for violating various rules related to trading activities.
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In 2016, Citadel Securities was fined $3.5 million by the SEC for violating the National Market System Plan governing the consolidated data feeds that disseminate stock prices and trades to the public.
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In 2017, Citadel Securities was fined $22.6 million by the SEC for misleading customers about the quality of its pricing and execution.
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In 2017, the US Financial Industry Regulatory Authority (FINRA) fined Citadel Securities $1.5 million for allegedly providing inaccurate information to customers and for failing to report trades to the appropriate regulatory entities.
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In 2018, Citadel Securities was fined $3.5 million by the SEC for failing to provide customers with accurate trade data.
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In 2019, Citadel Securities was fined $100,000 by the Commodities Futures Trading Commission (CFTC) for exceeding speculative position limits in wheat futures.
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In 2020, Citadel Securities was fined $97,000 by FINRA for failing to properly report certain equity trades.
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In 2020, the US Commodities Futures Trading Commission (CFTC) fined Citadel Securities $700,000 for allegedly violating swap data reporting requirements.
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In 2021, Citadel Securities was fined $700,000 by FINRA for failing to report a significant number of trades to FINRA's Trade Reporting and Compliance Engine (TRACE).
International regulatory fines:
14. In 2017, the European Securities and Markets Authority (ESMA) fined Citadel Securities €1.1 million for breaching market-making obligations and engaging in algo-trading activity that may have contributed to market disorder.
15. In 2017, the Autorité des marchés financiers (AMF) in France fined Citadel Securities €5 million for allegedly manipulating French government bond futures.
16. In 2018, Citadel Securities was fined €1.6 million by the Italian securities regulator (CONSOB) for market manipulation and insider trading in the Italian government bond market.
18. In 2018, the Australian Securities and Investments Commission (ASIC) fined Citadel Securities AUD 360,000 for alleged trading violations related to market integrity.
19. In 2018, the Monetary Authority of Singapore (MAS) fined Citadel Securities $230,000 for market manipulation related to its trading activities on the Singapore Exchange (SGX).
20. In 2020, the French financial regulator, Autorité des marchés financiers (AMF), fined Citadel Securities €2 million for allegedly manipulating the bond market and breaching its best execution obligations.
21. In 2020, the UK's Prudential Regulation Authority (PRA) fined Citadel Securities £1.2 million for failing to provide accurate and timely transaction reports to the regulator.
22. In 2020, the Swiss financial regulator, Swiss Financial Market Supervisory Authority (FINMA), fined Citadel Securities CHF 1.12 million for violating trading rules and engaging in market manipulation on the SIX Swiss Exchange.
23. In 2020, Citadel Securities was fined £1,445,000 by the UK Financial Conduct Authority (FCA) for inaccurate transaction reporting and failing to take reasonable care to organize and control its affairs responsibly and effectively.
24. In 2021, the UK's Financial Conduct Authority (FCA) fined Citadel Securities £1.4 million for failing to adequately report certain trades to the regulator.
25. In 2021, Citadel Securities was fined $97,000,000 in China for alleged "malicious" short-selling practices.
26. In 2021, the Korea Financial Investment Association (KFIA) reportedly fined Citadel Securities 175 million won ($155,000) for allegedly engaging in high-frequency trading activities that violated local laws.
Citadel Advisors:
27. In 2017, the Securities and Exchange Commission (SEC) fined Citadel Advisors $22.6 million for allegedly misleading investors about the fund's market timing practices.
28. In 2014, the firm paid $800,000 to settle charges with the Financial Industry Regulatory Authority (FINRA) for violating short-selling rules.
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