Sept 29 (Reuters) – British financial institution Barclays (BARC.L) agreed to a $361 million penalty over inner management failures associated to the unregistered provide and sale of “an unprecedented quantity” of securities, the U.S. Securities and Alternate Fee stated on Thursday.
“Whereas we acknowledge Barclays’ efforts to determine, disclose and remediate this conduct, the management deficiencies and the scope of the conduct at subject right here was merely staggering,” the director of the SEC’s Division of Enforcement, Gurbir Grewal, stated in a information launch.
(This story corrects headline and first paragraph to clarify $361 million was dimension of penalty, not cost)
Reporting by Kanishka Singh in Washington; writing by Costas Pitas; modifying by Tim Ahmann
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