Barclays Said to Face Fine Over Client Asset Segregation
This article is for subscribers only.
Barclays Plc is poised to be hit with its second fine by British regulators over failures to segregate client assets properly, a setback to Antony Jenkins’s efforts to put the lender’s legal woes behind him, two people with knowledge of the matter said.
The fine, which is still under discussion, may come later this year and could surpass the 59.5 million-pound ($99 million) penalty Britain’s second-largest lender paid to the Financial Conduct Authority as part of its 290 million-pound settlement with regulators over the rigging of benchmark interest rates, said one of the people, who asked not to be identified because the talks are private.