Barclays Fined $44 Million for London Gold Fix Failings
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Barclays Plc was fined 26 million pounds ($44 million) by Britain’s markets regulator after a trader was found to have manipulated the price of gold in 2012, dealing a blow to Antony Jenkins’s attempts to rehabilitate the lender’s reputation.
The U.K. Financial Conduct Authority faulted the British bank for “failing to adequately manage conflicts of interest” with its customers between 2004 to 2013, according to the regulator’s statement. The FCA also fined the former trader, Daniel Plunkett, 95,600 pounds and banned him from the industry.