FCA fines Barclays £284,432,000 for failing to adequately control its London FX business | Practical Law

FCA fines Barclays £284,432,000 for failing to adequately control its London FX business | Practical Law

The FCA has published the final notice it has issued to Barclays Bank plc, imposing a fine of £284,432,000 for breach of Principle 3 (management and control) of the FCA's Principles for Businesses (PRIN) by failing to take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems, in relation to its foreign exchange (forex or FX) business in London.

FCA fines Barclays £284,432,000 for failing to adequately control its London FX business

by Practical Law Financial Services
Published on 20 May 2015 • United Kingdom
The FCA has published the final notice it has issued to Barclays Bank plc, imposing a fine of £284,432,000 for breach of Principle 3 (management and control) of the FCA's Principles for Businesses (PRIN) by failing to take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems, in relation to its foreign exchange (forex or FX) business in London.