NEW YORK, September 30, 2022--The U.S. Securities and Exchange Commission ("SEC") has announced the resolution of its investigation of Barclays PLC ("BPLC") and Barclays Bank PLC ("BBPLC") relating to the over-issuance of securities by BBPLC under certain of its U.S. shelf registration statements. Pursuant to the terms of the resolution and as reflected in BPLC’s and BBPLC’s H122 Results Announcements, BPLC and BBPLC will pay a combined penalty of U.S.$200 million, without admitting or denying t
Barclays (BCS) agrees to pay a fine of $361 million for its failure to monitor the sale of additional securities than it was permitted to issue.
Barclays has agreed to pay $361mn to settle charges that a clerical error led the UK bank to offer for sale billions of dollars worth of structured financial products that it was not permitted to trade. The error dated from 2019 to March this year, when Barclays offered $17.7bn worth of products that had not been registered for sale with the US Securities and Exchange Commission — an “unprecedented” amount of unregistered securities, the regulator said in announcing the penalty on Thursday. The SEC alleged that the violations stemmed from the bank’s failure to implement internal controls to monitor the sales in real time.