Just five days after the research arm of Barclays PLC (ADR) (NYSE:BCS) (LON:BARC) indicated that its regulatory problems in the U.S. may be in the rear view mirror come new charges by the Security and Exchange Commission against the London-based bank.
SEC charges Barclays with failing to maintain an adequate internal compliance system
The SEC today charged Barclays with “failing to maintain an adequate internal compliance system” in light of Barclays’ acquisition of Lehman Brothers wealth management business, which was completed in September 2008 as Lehman was spiraling into bankruptcy. The case relates to unauthorized trades and commissions in client accounts.
Barclays PLC (ADR) (NYSE:BCS) (LON:BARC) agreed to pay a $15 million penalty after an...
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