Barclays PLC, through its subsidiaries, operates as a financial services provider worldwide. The company provides retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services. Barclays Core The company’s core business includes Personal and Corporate Banking, Barclaycard, Africa Banking and the Investment Bank, along with Head Office and Other Operations. Personal and Corporate Banking: It combines core elements of the United Kingdom (U.K.) retail and business banking, global wealth and investment management, and global corporate banking activities. Transfers to the Non-Core segment include the U.K. retail insurance underwriting and investment businesses; selected non-core corporate banking in Europe and the Middle East and certain long-dated corporate loans; local Wealth operations in certain overseas locations; and certain asset management businesses. The African businesses of Corporate Banking and Wealth Management have been moved to Africa Banking. Barclaycard: It is an international consumer payments company serving the needs of businesses and consumers through credit cards, consumer lending, merchant acquiring, commercial cards and point of sale finance. Barclaycard has scaled operations in the U.K., the United States (U.S.), Germany, Iberia and Scandinavia. Africa Banking: The Africa Banking business is managed under three primary businesses, including retail and business banking; wealth, investment management and insurance; and corporate and investment banking. The resulting African business comprises the Barclays Africa Group Limited (BAGL) listed entity, together with Barclays Egypt and Zimbabwe businesses. Investment Bank: The Investment Bank consists of origination-led and returns-focused markets and banking businesses. Head Office and Other Operations: It comprises brand and marketing, finance, head office, human resources, internal audit, legal and compliance, risk, treasury and tax and other operations. Barclays Non-Core The company’s non-core business includes the company’s non-current assets held for sale, such as the Portuguese retail banking, wealth and investment management businesses and part of the Portuguese corporate banking business; Barclays Vida y Pensiones, a company offering life insurance, pension products and services in Spain, Portugal and Italy; and the Italian retail business, including mortgages. Supervision and Regulation The company’s subsidiary, Barclays Bank PLC, is authorized under the Financial Services and Markets Act 2000 (as amended) to carry on a range of regulated activities within the U.K. It is also authorized and subject to solo and consolidated prudential supervision by the Prudential Regulation Authority and subject to conduct regulation and supervision by the Financial Conduct Authority (FCA). FCA regulation of the company is carried out through a combination of continuous assessment; regular thematic and project work based on the FCA’s sector assessments, which analyse the different areas of the market and the risks that may lie ahead; and responding to crystallised risks, seeking to ensure remediation as appropriate. The company’s operations in South Africa, including Barclays Africa Group Limited, are supervised and regulated mainly by the South African Reserve Bank, the Financial Services Board; and the Department of Trade and Industry. In the U.S., the company, Barclays Bank PLC, and their U.S. subsidiaries are subject to a regulatory framework involving various statutes, rules, and regulations, including the International Banking Act of 1978; the Bank Holding Company Act of 1956; the USA PATRIOT Act of 2001; and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (DFA). The New York and Florida branches of Barclays Bank PLC are subject to extensive federal and state supervision and regulation by the Board of Governors of the Federal Reserve System, and as applicable, the New York State Department of Financial Services and the Florida Office of Financial Regulation. The company’s subsidiary, Barclays Bank Delaware, is subject to supervision and regulation by the Federal Deposit Insurance Corporation (FDIC), the Delaware Office of the State Bank Commissioner, and the Consumer Financial Protection Bureau (CFPB). The deposits of Barclays Bank Delaware are insured by the FDIC. In addition, Barclays Bank Delaware must have at least a ‘satisfactory’ rating under the Community Reinvestment Act of 1977. Under the Federal Deposit Insurance Act, as amended by the DFA, the company is required to act as a source of financial strength for Barclays Bank Delaware. The company’s U.S. securities broker/dealer, investment advisory and investment banking operations are also subject to ongoing supervision and regulation by the Securities and Exchange Commission, the Financial Industry Regulatory Authority, and other government agencies and self-regulatory organizations (SROs) as part of a scheme of regulation of all aspects of the securities and commodities business under the U.S. federal and state securities laws. Similarly, the company’s U.S. commodity futures and options-related operations are subject to ongoing supervision and regulation by the Commodity Futures Trading Commission, the National Futures Association, and other SROs. The company’s U.S. credit card activities are subject to ongoing supervision and regulation by the CFPB, which was established by the DFA. History The company was founded in 1896. The company, named Barclay & Company Limited, was incorporated in England and Wales in 1896 under the Companies Acts 1862 to 1890. The company name was changed to Barclays Bank Limited in 1917 and was registered in 1982 as a public limited company under the Companies Acts 1948 to 1980. In 1985, the company changed its name to Barclays PLC.
ipath optimized currency etn
1 Churchill Place
London, E14 5HP
Phone: 44 20 7116 1000
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