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212 views Jan 29, 2015
Barclays has been penalized £26 thousand

Barclays has been penalized £26 thousand (almost US$44m) and one of its former investors prohibited from working in the town for mistakes relating to the way that the gold price is fixed in London, uk.Almost two years after being Buy RS Gold by a £290m ($489m) excellent for rigging the Libor (London Interbank Offered Rate) amount, Barclays is now experiencing the wrath of regulators again. Now the U.K.

Financial Conduct Power is creating the lender pay for almost 10 years of, as the declaration says, “inadequate” oversight of the way it was involved in establishing the price of gold, known as the fix.The FCA added Barclays had failed to “adequately handle conflicts of attention between itself and its clients as well as systems and manages failings, in relation to the gold fixing” between 2004 and 2013.

“A firm’s lack of manages and a trader’s disregard for a customer’s interests have allowed the economical services industry’s popularity to be sullied again,” the FCA house of enforcement and economical criminal activity, Tracey McDermott, said in the declaration. “Traders who might be tempted to manipulate their clients for some fast cash should be in no question – such behaviour will price you your popularity and your livelihood.”


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