Belfast Telegraph

UK Website Of The Year

Barclays could face at least another US $100m fine

By Holly Williams

Published 19/11/2015

Barclays are facing another stiff fine from America's banking regulator
Barclays are facing another stiff fine from America's banking regulator

Barclays is reportedly facing at least another $100m (£65.8m) in fines from America's banking regulator over the foreign exchange rigging scandal.

The group is expected to be hit with the penalty by the New York Department of Financial Services (DFS) within weeks, according to the Financial Times.

Its latest forex fine is understood to follow the DFS's latest investigation into alleged electronic trading abuses and adds to the $485m (£319m) Barclays agreed to pay the regulator in May as part of a wider £1.5bn settlement with US and UK authorities.

It will mark an early test for incoming chief executive Jes Staley - the former JP Morgan banker who is due to take the helm early in December. Barclays declined to comment.

The forex scandal has become one of the most expensive banking scandals in history, embroiling the industry in yet more controversy following the Libor rate-fixing affair.

Belfast Telegraph

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?

Read More


From Belfast Telegraph