Barclays has announced two new US regulatory investigations today, looking into whether Barclays won business complies with the Foreign Corrupt Practices Act.
The Department of Justice and Securities and Exchange Commission are probing into whether Barclays’ relationships with third parties who help it win or retain business are compliant with U.S. laws.
The bank also announced a pre-tax statutory loss of £47m for the third quarter, down from a £2.4bn profit last year. Profit was hit by £700 million charges for mis-selling insurance.
Share prices fell by over 4% due to fears that the legal problems that continue to dog the company might prevent its new chief executive, Antony Jenkins, from overhauling it.
Jenkins took over at the end of July after Bob Diamond quit after the bank admitted rigging Libor interest rates, and is currently conducting a review to change culture and lift profitability.
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