© Reuters. FILE PHOTO: The logo of Barclays bank is seen on glass lamps outside of a branch of the bank in the City of London financial district in London September 4, 2017. REUTERS/Toby Melville
(Reuters) – British bank Barclays (LON:) will pay $361 million after being charged by the U.S. Securities and Exchange Commission over internal control failures related to the unregistered offer and sale of “an unprecedented amount” of securities, the regulator said on Thursday.
“While we acknowledge Barclays’ efforts to identify, disclose and remediate this conduct, the control deficiencies and the scope of the conduct at issue here was simply staggering,” the director of the SEC’s Division of Enforcement, Gurbir Grewal, said in a news release.
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