Barclays to pay SEC $361 Million on over issuance of securities


Reuters | Updated: 30-09-2022 02:02 IST | Created: 30-09-2022 02:02 IST
Barclays to pay SEC $361 Million on over issuance of securities

British bank Barclays will pay $361 million after being charged by the U.S. Securities and Exchange Commission over internal control failures related to the unregistered offer and sale of "an unprecedented amount" of securities, the regulator said on Thursday.

"While we acknowledge Barclays’ efforts to identify, disclose and remediate this conduct, the control deficiencies and the scope of the conduct at issue here was simply staggering," the director of the SEC’s Division of Enforcement, Gurbir Grewal, said in a news release.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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