Barclays , U.K. headquartered bank set aside another $1.15 billion for foreign exchange fixing manipulation related settlement charges, Bloomberg announced on Tuesday.
Barclays pulled out of a settlement between U.S. and UK authorities and six banks in November because it had not reached a deal with New York’s regulator, and it still wants to conclude most regulatory settlements together.
This makes the provisions for ongoing investigations against the bank’s conduct total $1.9 billion. The CEO of the company, Anthony Jenkins, commented in the earnings report about the foreign exchange probe, “We remain focused on addressing outstanding conduct issues, including those relating to Foreign Exchange trading.”
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
US Steel and Nippon Steel Secure International Approvals for $14.9B Merger
May 30, 2024 by
CPI
EU Watchdog Mandates Boardroom Accountability for AI in Banks
May 30, 2024 by
CPI
Senate Democrats Urge DOJ Investigation into Alleged Big Oil Collusion
May 30, 2024 by
CPI
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI