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UK: Barclays Sets Aside Another $1.15 billion for currency-rigging probe

By  |  March 3, 2015

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

 

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