Uh oh! Barclays set for £250m fine – the biggest EVER

British bank in hot water with record-breaking fine

The Financial Conduct Authority has handed out its largest ever fine to Barclays after foreign exchange rigging allegations.

The bank is set to pay at least £250m, higher than the record set by UBS’s £234m fine last year.

More than £4bn of penalties are expected in total in this round of fines, with Barclays, Royal Bank of Scotland, UBS, JPMorgan and Citigroup paying fines to UK and US regulators.

We’ll find out the exact amount of Wednesday.

Barclays didn’t settle early and so didn’t receive a 30% discount on its fine like four banks which settled in November.


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Readers' comments (1)

  • Will we be seeing suits in the dock this time, charged with criminal offences?

    No, of course we won't.

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