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BCS Barclays PLC

10.17
-0.08 (-0.78%)
04 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Barclays PLC NYSE:BCS NYSE Depository Receipt
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  -0.08 -0.78% 10.17 10.295 10.155 10.19 21,807,125 01:00:00

Barclays Fined by UK Watchdog on Links to Collapsed Premier FX

28/02/2022 11:12am

Dow Jones News


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By Sabela Ojea

 

The Financial Conduct Authority said Monday that it has fined Barclays PLC 783,800 pounds ($1.1 million) for failings in oversight of collapsed firm Premier FX.

The regulator said that the bank, which was Premier FX's sole banker in the U.K., has also agreed to pay GBP10.1 million to the customers affected by the firm's collapse.

"Following the distribution by the liquidator amounting to 9 pence for every GBP1 lost, Barclays' voluntary payment of GBP10.1 million will make up the difference, meaning all 167 customers of Premier FX with accepted claims will have 100% of their money returned," the watchdog said.

Barclays failed at identifying that Premier FX's internal controls were deficient, the FCA said.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

February 28, 2022 05:57 ET (10:57 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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