Pursuits
Libor Probe, SEC’s SIPC Suit, Resolution Plans: Compliance
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Barclays Plc saved itself 25.5 million pounds ($40 million) in fines by moving first to settle a probe over the rigging of global interest rates. In return, it has lost three top executives, $5 billion of market value and sparked a government inquiry.
Barclays, the U.K’s second-largest lender by assets, is one of at least 12 banks including Citigroup Inc. and HSBC Holdings Plc under investigation for manipulating the London interbank offered rate. The decision to cooperate with regulators before its competitors in exchange for more lenient treatment has backfired, analysts and investors say.