Barclays will pay an additional $150 million to New York State’s financial regulator to resolve allegations that it rigged foreign exchange trading by putting the bank’s interests ahead of those of its clients, the regulator said on Wednesday.
The British bank is also removing a head of global electronic trading for foreign exchange-related misconduct, the New York Department of Financial Services said. The person’s identity was unclear.
The penalty will be reflected in Barclays’ fourth quarter 2015 results, the company said. It followed another NYDFS penalty against Barclays in May, bringing total penalties by the regulator against the bank for forex-related conduct to $635 million. (Reuters)