SEC Punishes Barclays for having offered and sold approximately $17.7 billion of securities in unregistered transactions. Buyers of the “unregistered securities” right to demand Barclays buy back the products at the original price plus interest. Barclays sets 1.3 billion aside to cover the costs.

by

Sept 29 (Reuters) – British bank Barclays (BARC.L) agreed to a $361 million penalty over internal control failures related to the unregistered offer and sale of “an unprecedented amount” of securities, the U.S. Securities and Exchange Commission said on Thursday.

https://www.reuters.com/business/finance/barclays-pay-sec-361-million-over-issuance-securities-2022-09-29/

h/t ringingbells

Got a news tip or correction? Let us know

If you got something out of this, please chip in to keep this site running, or subscribe to go ad-free.

3 views