barclays faces two more us investigations

Barclays is undergoing another two regulatory investigations in the US, the banking group’s half-year results show.

barclays faces two more us investigations


The US Department of Justice and the Securities and Exchange Commission are looking into “whether the group’s relationships with third parties who assist Barclays to win or retain business are compliant with the United States Foreign Corrupt Practices Act”.

Barclays is already under investigation in the UK over payments to Qatari investors. The FSA is investigating if the group made adequate disclosure of the fees it paid in a 2008 capital raising from the Gulf state.

The bank did not comment on whether the new US investigation is linked to the same transactions. It added that is “investigating and fully co-operating” with the two bodies.

In addition, Barclays’ latest results revealed that the US Federal Energy Regulatory Commission is investigating power trading it conducted in the western US between late 2006 and 2008.

The group said the regulator could give notice of proposed penalties as early as today, adding that it intends to “vigorously defend this matter”.

Antony Jenkins, chief executive of Barclays, commented in the results: “While we have much to do to restore trust among stakeholders, our universal banking franchise remains strong and well positioned.”


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