Belfast Telegraph

Barclays could face at least another US $100m fine

By Holly Williams

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