The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
from Financial Regulatory Forum:
By Scott McCleskey, Regulatory Intelligence Expert
NEW YORK, Sept. 9 - The recent SEC enforcement action against Citigroup for trade surveillance lapses provides an embarrassing lesson about the pitfalls of technology and the importance of the "third line of defense", an effective audit of the processes of compliance and other control functions.