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Barclays Won't Face Criminal Case for Hewlett-Packard Trades

  • New Justice Department approach encourages bank cooperation
  • Prosecutors will reward companies that report securities fraud
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Photographer: Luke MacGregor/Bloomberg
Updated on

Barclays Plc will not face criminal charges over allegations that one of its traders defrauded Hewlett-Packard Co., signaling a new U.S. approach that results in lesser penalties for institutions that report securities fraud themselves.

The new position, similar to one implemented last fall on foreign corruption reporting, was announced on Thursday by Justice Department officials at a white-collar fraud conference in San Diego.