LONDON (Alliance News) - Barclays PLC is to pay a GBP38.0 million fine for failing to segregate clients' assets properly, Sky News reported late Monday.
According to the report, the Financial Conduct Authority will announce as soon as Tuesday that the British lender will pay the fine.
Citing insiders, the report said the regulator's announcement is to be clear that losses for the bank's clients were theoretical and not actual.
The offences took place prior to the appointment of current Chief Executive Antony Jenkins.
http://news.sky.com/story/1340322/barclays-hit-by-38m-fine-over-client-assets
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.
Barclays (BARC)