British banking major Barclays is set to be hit with its second fine by the UK’s Financial Conduct Authority (FCA) over failures to segregate client assets properly, according to a Bloomberg report.
The potential fine from the regulator was still under discussion. The fine could surpass 60 million pounds and come later this year, people with knowledge of the matter told Bloomberg.
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When contacted, both Barclays and the FCA declined to comment.
In 2011, Barclays was fined GBP1.1 million. While clients didn’t suffer any losses, they were put at risk of loss, the regulator said at the time.
The watchdog accepted the violations weren’t deliberate and Barclays had already addressed its failures.
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