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FSA fine Barclays £2.45m

September 8, 2009 News 2 Comments

FSA fines Barclays £2.45m for failures in transaction reporting

The Financial Services Authority has fined Barclays Capital Securities Ltd and Barclays Bank PLC £2.45m for failing to provide accurate transaction reports to the FSA and for serious weaknesses in systems and controls in relation to transaction reporting.

Firms are required to submit data for reportable transactions by close of business the day after a trade is executed.  The FSA uses this data to detect and investigate suspected market abuse: insider trading and market manipulation.
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