By Kyle Brasseur2023-04-19T14:20:00
The New York-based investment banking division of Barclays was fined $2.5 million as part of a settlement with the Financial Industry Regulatory Authority (FINRA) addressing allegations it failed to accurately report over-the-counter (OTC) options positions in more than 4 million instances.
Barclays Capital (now Barclays Corporate and Investment Bank) failed to reasonably supervise its large options positions reporting (LOPR) system, which was hampered by four separate coding errors, according to FINRA’s settlement published Tuesday. The alleged issues resulted in 4.3 million violations of FINRA Rules 2360(b)(5) regarding options positions and 2010 on principles of trade.
The four coding errors existed over varying periods ranging four to eight years from January 2011 through December 2022, according to FINRA. They included:
2024-02-21T18:49:00Z By Jeff Dale
Barclays Bank disclosed an investigation by the U.K. Financial Conduct Authority into the bank’s anti-money laundering controls has closed without a penalty.
2023-08-17T18:26:00Z By Kyle Brasseur
Goldman Sachs agreed to pay $425,000 as part of a settlement with the Financial Industry Regulatory Authority addressing allegations of reporting and supervision violations regarding more than 1 million over-the-counter options positions.
2023-05-23T15:44:00Z By Aaron Nicodemus
JPMorgan Securities agreed to pay $750,000 to settle allegations levied by the Financial Industry Regulatory Authority that its inadequate financial risk management controls and supervisory procedures allowed erroneous orders to be placed with exchanges or alternative trading systems.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
2025-10-06T16:46:00Z By Aly McDevitt
A single $33,000 shipment to Iran triggered a six-figure penalty and years of compliance oversight for biotechnology company LuminUltra Technologies, Inc.
Site powered by Webvision Cloud