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Barclays’ Cost of Conduct Woes Continue

Aarti Maharaj | November 18, 2015

Barclays is set to pay another £65.7 million  ($100 million) to settle allegations that it manipulated foreign exchange markets. Earlier this month the British bank paid $120 million to the New York Department of Financial Services for its involvement in the Libor scandal, said reports.

A Financial Times article recently pointed out that Barclays’ cost for conduct issues have increased to more than £12 billion, according to a report by CPP Research Foundation, which was released earlier this year. This case, however, is just one of the many ongoing cases for Barclays.

Strange enough, European financial institutions don’t fork over as much as U.S. banks in conduct fines—JPMorgan and Citi Bank are clear examples of this. Globally, fines are now at $219 billion, according to Moody’s and it shows that regulators and accountants are...

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