Barclays Just Going To Open The Floor To Anyone Who Wants To Kick Its Ass Today

Author:
Updated:
Original:

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]

Related

News

Former Barclays Employee Is Probably Going To Jail

Before anyone takes to Twitter to give the UK a piece of her mind, though, breathe easy: the misconduct is related to funds used to pay for breast augmentations and other cosmetic enhancements and could even take some of the heat off of Bob Diamond et al, who've yet to be accused of using customer money to pay for lipo. A bank clerk stole £46,000 to fund a boob job, liposuction and hair extensions to help her achieve her dream of becoming a model. Rachael Claire Martin admitted taking the money over an eight-week period from Barclays Bank in Liskeard, Cornwall, where she worked. The 24-year-old, from St Austell, Cornwall, is thought to have spent £4,000 on breast enlargement and £1,700 on dental work, which included teeth whitening treatment. The mother of one also travelled to Bristol on wild shopping sprees - buying make up and other items before enjoying nights out on the town back at home. While working at the bank, she regularly stole relatively small sums of £2,000 and £1,000, which she siphoned into her own account. On one occasion she managed to take £6,000. She initially denied 25 separate counts of theft from the bank between September 1 and October 3 in 2010. But the prosecution charged her with just one count of stealing £46,000 over the same period at Truro Crown Court yesterday and she pleaded guilty...She will face a jail term when she returns to court in September. Police were called when the theft was realised - but she had apparently already spent most of the stolen cash on her appearance, in the hope of realising her modelling dream. Barclays bank clerk stole £46,000 and spent it on boob job, liposuction and wild shopping sprees to fulfill her dream of becoming a model [DM]