Barclays, Traders Fined $487.9 Million by U.S. Regulator
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Barclays Plc and four of its former traders must pay a combined $487.9 million in fines and penalties, the U.S. Federal Energy Regulatory Commission said in a final order stemming from its investigation of alleged manipulation of energy markets.
The agency directed the company and the traders to pay to the U.S. Treasury within 30 days $453 million in civil penalties, according to an 86-page order issued today. The London-based bank must also give up $34.9 million in profits, to be distributed to programs that help low-income homeowners pay energy bills in California, Arizona, Oregon and Washington, it said.