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Sept. 29, 2022, 4:26 p.m. EDT

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

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By Chris Matthews

BCS

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 -1.53% 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.

/zigman2/quotes/206581728/composite
US : U.S.: NYSE
$ 7.70
-0.12 -1.53%
Volume: 5.28M
Dec. 5, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
3.96%
Market Cap
$30.40 billion
Rev. per Employee
$380,831
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