The British bank has been dragged into gold fixing scandal after fines over Libor
Barclays has been handed a £26m fine from the UK
financial watchdog for one of its former traders attempting to
fix gold prices, making the British bank the first to be
punished for rigging gold prices.
The Financial Conduct Authority (FCA) charged Barclays for
failing to adequately manage conflicts of interest between
itself and customers along with systems and controls failings
in relation to the gold fixing.
The latest charge adds to past manipulation penalties for
the fixing of Libor and Euribor benchmark rates which also cost
the bank millions of pounds.
This article is available exclusively to subscribers
Please log in to continue reading.
Not yet a subscriber?
Click here to take a free trial.
Already have an account? |
Please fill in your details below and a customer service representative will contact you.