Hong Kong’s financial-markets regulator fined a unit of Citigroup and warned it would pursue action against some former staffers, after finding that some of the US bank’s stock traders misled investors over more than a decade.

The city’s Securities and Futures Commission said 28 January it had fined Citigroup Global Markets Asia HK$348.25m, the equivalent of about $44.7m, for misconduct on some of the bank’s equities-trading desks between 2008 and 2018.