Barclays: Settlement with Department of Financial Services regarding foreign exchange electronic trading
Barclays Bank PLC has reached a settlement with the New York State Department of Financial Services (“DFS”) in respect of its investigation into Barclays’ electronic trading of foreign exchange (“FX”) and FX electronic trading systems in the period 2009 to 2014. The DFS is imposing a civil monetary penalty of $US150 million on Barclays Bank PLC, primarily for certain internal systems and controls failures.
The civil penalty payable under the settlement will be reflected in Barclays’ Q4 2015 results.
Barclays continues to co-operate with other ongoing investigations and to manage related litigation risks as previously disclosed.
Source: Barclays
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