“A U.K. financial regulator has fined Barclays (BCS) $43.8 million after it accused a former trader at the bank of improperly influencing gold prices. The British bank will be fined £26 million ($43.8 million) for failures that allowed trader Daniel James Plunkett to exploit the weaknesses in Barclays’ systems and controls to seek to influence the price of gold, which allowed the firm to ‘profit at a customer’s expense,’ according to a news release. The fine was handed down by the Financial Conduct Authority. Separately, Plunkett was fined £95,600, or about $161,000.”
http://features.blogs.fortune.cnn.com/2014/05/23/barclays-fined-44-million-over-gold-price-fixing/
(Visited 26 times, 1 visits today)
Related posts:
Russian Banks Experience Foreign Cash Crunch
Who Could Be Watching You Watching Your Figure? Your Boss
Bitcoin among virtual currencies targeted in US crackdown on tax evasion
Apple Pay won't bite into bitcoin: Winklevoss
Marc Faber: I Will Never Sell My Gold
Study: Wind blew deadly gas to U.S. troops in Gulf War
NYPD chief Ray Kelly defends officers over Empire State Building shooting
Israeli Parliament Approves Austerity Measures
Pakistan orders fresh murder charges against Pervez Musharraf
Apple co-founder Steve Wozniak wants to become an Australian citizen
Bhutan banks on ‘white gold’ hydropower
The Feds Are Cracking Down On Mt. Gox (Not On Bitcoin)
White House to Give Detroit $300 Million in Federal Aid
The Bacteria Babies Need
India takes drastic steps to defend rupee as global Fed shock deepens