Barclays agrees to $361 million settlement with SEC for over-issuance of securities

The Securities and Exchange Commission charged Barclays PLC for the sale of $17.7 billion in unregistered securities, the regulator said Thursday. "This case highlights why it is essential for firms like Barclays /zigman2/quotes/206581728/composite BCS +0.43% to have robust internal controls over their offers and sales of securities," said Gurbir S. Grewal, director of the SEC's Division of Enforcement, in a statement. "The control deficiencies and the scope of the conduct at issue here was simply staggering." The bank agreed to pay a $200 million civil penalty and a disgorgement and prejudgment interest of more than $161 million in connection with the case. Barclays self reported its over-issuance to regulators and provided "meaningful cooperation" during the SEC's investigation, the SEC said.

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Barclays PLC ADR

US : U.S.: NYSE

$ 7.07

+0.03 +0.43%

Volume: 19.21M

Dec. 6, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

5.25%

Market Cap

$26.60 billion

Rev. per Employee

$359,226