Citigroup's China expansion plan put on hold by US regulators, Bloomberg News reports

The bank is facing delays in setting up a standalone securities firm because it hasn't yet received a clearance letter from the U.S. Fed verifying its regulatory standing, which is required by Chinese authorities, Bloomberg said. Citi was instructed to resolve its data management problems at home, after being hit with a combined $136 million in fines in July, the report said.