Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Barclays PLC    BARC   GB0031348658

BARCLAYS PLC

(BARC)
  Report  
Delayed Quote. Delayed London Stock Exchange - 10/21 11:35:20 am
165.62 GBp   +0.38%
09:36aBARCLAYS : Form 8.5 (EPT/NON-RI) - Inmarsat PLC - Amendment
PU
09:26aBARCLAYS : Form 8.3 - Abbvie Plc
PU
09:26aBARCLAYS : Form 8.3 - cobham plc
PU
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Barclays : in $13.75 million U.S. settlement over mutual funds

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/29/2015 | 10:56am EDT
The Barclays logo on their building in Times Square, Manhattan, New York

(Reuters) - Barclays Plc will pay more than $13.75 million to settle U.S. regulatory charges that it let retail brokerage customers make unsuitable mutual fund transactions, including more than 6,100 fund switches, over a five-year period.

The Financial Industry Regulatory Authority on Tuesday said the London-based bank's Barclays Capital Inc unit will pay more than $10 million in restitution, including interest, to affected customers, and was fined $3.75 million.

Barclays did not admit or deny wrongdoing in agreeing to the settlement, which includes a censure. A spokesman had no immediate comment.

FINRA said that from January 2010 to June 2015, Barclays' inadequate supervisory procedures failed to stop many customers from swapping one mutual fund for another when the benefits of switching might be undermined by the transaction costs.

This caused $8.63 million of harm to customers, most of whom were not warned of such costs, the regulator said.

FINRA also said that from March to August 2014, Barclays processed 1,723 fund transactions, or 39 percent of those it reviewed, that were inconsistent with its customers' goals, risk tolerance or other investments. It said 343 of these transactions caused more than $818,000 of customer harm.

During the same period, Barclays also failed to provide "breakpoint" discounts to reduce front-end sales charges on 98 large purchases of Class A fund shares, FINRA said.

"The proper supervision of mutual fund switching and breakpoint discounts is essential to the protection of retail mutual fund investors," FINRA enforcement chief Brad Bennett said in a statement.

(Reporting by Jonathan Stempel in New York; Editing by Bernadette Baum and Meredith Mazzilli)

By Jonathan Stempel

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BARCLAYS PLC
05:05pUBS, SIMMONS ENERGY PARE BANKERS AS : sources
RE
12:47pEUROPE : European shares rise amid Brexit tussle as focus shifts to earnings
RE
09:36aBARCLAYS : Form 8.5 (EPT/NON-RI) - Inmarsat PLC - Amendment
PU
09:26aBARCLAYS : Form 8.3 - Abbvie Plc
PU
09:26aBARCLAYS : Form 8.3 - cobham plc
PU
09:26aBARCLAYS : Form 8.3 - Allergan plc
PU
09:26aBARCLAYS : Form 8.3 - Green REIT plc
PU
05:01aBARCLAYS : Form 8.5 (ept/non-ri) - low & bonar plc
PU
05:01aBARCLAYS : Form 8.5 (EPT/NON-RI) - EI GROUP PLC
PU
05:01aBARCLAYS : Form 8.5 (ept/non-ri) - inmarsat plc
PU
More news
Financials (GBP)
Sales 2019 21 281 M
EBIT 2019 7 263 M
Net income 2019 2 359 M
Debt 2019 -
Yield 2019 5,34%
P/E ratio 2019 12,2x
P/E ratio 2020 7,26x
Capi. / Sales2019 1,34x
Capi. / Sales2020 1,30x
Capitalization 28 589 M
Chart BARCLAYS PLC
Duration : Period :
Barclays PLC Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BARCLAYS PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 184,65  GBp
Last Close Price 165,62  GBp
Spread / Highest target 50,9%
Spread / Average Target 11,5%
Spread / Lowest Target -33,2%
EPS Revisions
Managers
NameTitle
James Edward Staley Group Chief Executive Officer & Director
Taylor Wright Co-Head-US Equity & Managing Director
Nigel Paul Higgins Group Chairman
Paul Herbert Compton Group Chief Operating Officer
Tushar Morzaria Group Finance Director & Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
BARCLAYS PLC9.62%36 662
JPMORGAN CHASE & CO.23.50%385 432
INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED-2.51%275 856
BANK OF AMERICA CORPORATION23.17%275 556
WELLS FARGO & COMPANY8.44%213 329
CHINA CONSTRUCTION BANK CORPORATION-2.33%201 735