Barclays Fined Twice in One Day for Compliance Failures

In the U.K., Barclays agreed to pay 38 million pounds ($62 million) to Britain's market regulator for failing to properly protect 16.5 billion pounds of client assets between 2007 and 2012. Flaws in account naming or data suggested assets belonged to Barclays instead of its clients, which could have caused customers to lose money if the bank became insolvent, the Financial Conduct Authority said.