Barclays Just Going To Open The Floor To Anyone Who Wants To Kick Its Ass Today
Britain and the US tag-teamed a 1-2 punch around breakfast and lunch, respectively so who wants to knee the bank in the balls on its way home from work tonight or just after dinner? France? Germany?
Barclays was fined 38 million pounds ($62 million) by Britain's Financial Conduct Authority (FCA) for exposing customers to unnecessary risks by failing to ensure that client assets were properly safeguarded and adequate records kept. Hours later it was hit with a $15 million fine from the U.S. Securities and Exchange Commission (SEC) for lax internal compliance processes after its takeover of the U.S. operations of Lehman Brothers in September 2008.
Barclays takes $77 million hit from British and U.S. fines [Reuters]
