Barclays is reportedly being hit with a £50 million fine (US $79 million) from the UK’s Financial Conduct Authority and Serious Fraud Office. But the bank plans on fighting the penalty, reports the Guardian.
Barclays is reportedly being hit with a £50 million fine (US $79 million) from the UK’s Financial Conduct Authority and Serious Fraud Office. But the bank plans on fighting the penalty, reports the Guardian.
The fine stems from Barclay’s failure to release enough detail about fees to investors who backed the bank during the financial crisis. The regulator has characterized the bank’s conduct as “reckless,” according to the report.
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