Citigroup Inc. is asking finance ministers around the world to agree on regulatory changes to avoid global arbitrage, but the bank is planning for uneven changes, its chief executive of European, Middle Eastern and African operations said Monday.

"There are concerns globally about regulatory arbitrage," Bill Mills told a conference in London.

He said that although the bank has been in talks with country regulators to make sure "there is a level playing field" on new regulations, "we are planning for a different outcome." Mills didn't elaborate further.

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