Barclays PLC Hit With $44 Million Fine Over Gold Price Fix

HFA Padded
Mani
Published on
Updated on

The U.K.’s top financial watchdog, the Financial Conduct Authority (FCA), has fined Barclays PLC (NYSE:BCS) (LON:BARC) $43.8 million (26 million pounds) after accusing one of the bank’s former traders of improperly influencing gold prices at the expense of a customer. Officials say the trader’s gold price manipulation took place a day after U.K. and U.S. regulators fined Barclays PLC (NYSE:BCS) (LON:BARC) $450 million over attempted Libor rigging. Barclays PLC Disregards customer’s interest? The U.K.’s Financial Conduct Authority said Friday that the alleged manipulation of London gold prices was “extremely disappointing” and resulted from Barclays PLC (NYSE:BCS) (LON:BARC) “failing to adequately manage conflicts of…


Login if you are HedgeFundAlpha Subscriber.

HFA Padded

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports