Arab Today, arab today barclays fined another 150m over forex misconduct
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Barclays fined another $150m over forex 'misconduct'

Arab Today, arab today

Arab Today, arab today Barclays fined another $150m over forex 'misconduct'

Barclays systematically rejected customers' trades
New York - AFP

New York's financial regulator announced Wednesday another $150 million fine against British bank Barclays over its "misconduct" in foreign exchange services offered to clients.

The New York State Department of Financial Services said the bank systematically had rejected customers' trades that were unprofitable to the bank, and lied to the customers over why the trades did not go through.

Barclays traders used a computer program known as "Last Look" as "a general filter to reject customer orders that Barclays predicted, based on price movements during the hold period, would be unprofitable to the bank," the NYDFS said.

The department said the bank also must fire an unnamed senior official of its forex, currencies and commodities trading business for the misconduct, which took place during 2009-2014.

The new fine added to the $2.4 billion Barclays was ordered to pay US and British regulators, including the NYDFS, in May to resolve allegations of manipulation of the foreign exchange market.

That was part of $6 billion in penalties levied on six major global banks in the case.

Last week four Barclays bankers were among 10 charged in Britain with manipulating the Euro Interbank Offered Rate, the first to be charged with rigging Euribor.

Barclays is one of a dozen major banks which agreed in September to pay $1.9 billion to settle allegations of price fixing in the market for credit default swaps.

The bank has also been sued by private investors with about two dozen banks for allegedly rigging the US Treasury bond market.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today barclays fined another 150m over forex misconduct Arab Today, arab today barclays fined another 150m over forex misconduct

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today barclays fined another 150m over forex misconduct Arab Today, arab today barclays fined another 150m over forex misconduct

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday