Barclays Capital Inc., a member of FINRA, the broker-dealer industry’s self-regulatory authority since 2007, has agreed to a censure and a $2.5 million fine for allegedly failing to report, or inaccurately reporting, over-the-counter (OTC) options positions to the Large Options Positions Reporting (LOPR) system. That alleged reporting hiccup happened approximately 4.3 million times from January… Read More >>
Barclays Settles Pre-Crash RMBS Case for $2 Billion
The United States Department of Justice (DoJ) reports an agreement with Barclays Capital, Inc. and several of its affiliates, under which Barclays will pay $2 billion, to settle a civil action filed originally in December 2016. Under the terms of the agreement, the DoJ will dismiss the original civil action, which “sought civil penalties for… Read More >>
BarCap to Refund Clients $97M via SEC Settlement
Barclays Capital and the SEC have reached a settlement totaling more than $97 million that will require the broker-dealer to refund clients allegedly overcharged via advisory fees or mutual fund sales. During the period covered by the settlement, Barclays Capital, a subsidiary of Barclays Group US, was “a dually-registered broker-dealer and investment adviser,” and it… Read More >>
Barclays Penalized for EFRP Records Violations
A U.S. regulator has cited Barclays Bank on charges of record-keeping violations and is imposing a $500,000 civil monetary penalty upon the bank, months after the U.K. banking giant was cited for problems with its submissions of large trader reports (LTRs) on physical commodity swap positions. The CFTC, the regulator in both cases, is now… Read More >>
BarCap to Pay $2M in CFTC, FINRA Fines
Barclays Capital, the investment banking arm of the London-based banking multinational, has been hit with $2.1 million in fines for various reporting, clearing and trading violations, and for related supervision failures. Those penalties include an $800,000 fine from the CFTC and a $1.3 million fine from the Financial Industry Regulatory Authority (FINRA). FINRA fined BarCap,… Read More >>
Barclays, Credit Suisse Pay for Dark Pool Violations
Barclays Capital Inc. and Credit Suisse Securities (USA) LLC will pay a combined total of $154.3 million to the State of New York and the SEC to settle investigations into “false statements and omissions made in connection with the marketing of their respective dark pools and other high-speed electronic equities trading services,” according the office… Read More >>
PIMCO Adds Distressed Credit EVP
Pimco Hires from Bayside Capital Pimco, the Newport Beach, Calif.-based investment management firm, reports that it has hired Lionel Laurant as an executive vice president and portfolio manager focusing on distressed credit strategies. He will be based in the London office, reporting to Marc Seidner, managing director and chief investment officer — non-traditional strategies. Laurent… Read More >>
FINRA Fines Barclays Capital $800,000
The Financial Industry Regulatory Authority (FINRA) has fined broker-dealer Barclays Capital $800,000 for equity trade reporting violations and related violations of FINRA’s supervisory procedures, according to documentation made public by FINRA. BarCap will pay $650,000 for the equity trade reporting violations and $150,000 for the supervisory violations, according to the letter of acceptance, waiver and… Read More >>
