Barclays hit by $361 million penalty over issuance of securities

Sept 29 (Reuters) – British financial institution Barclays (BARC.L) agreed to a $361 million penalty over inner management failures associated to the unregistered supply and sale of “an unprecedented quantity” of securities, the U.S. Securities and Alternate Fee stated on Thursday.

“Whereas we acknowledge Barclays’ efforts to determine, disclose and remediate this conduct, the management deficiencies and the scope of the conduct at difficulty right here was merely staggering,” the director of the SEC’s Division of Enforcement, Gurbir Grewal, stated in a information launch.

(This story corrects headline and first paragraph to clarify $361 million was measurement of penalty, not fee)

Reporting by Kanishka Singh in Washington; writing by Costas Pitas; enhancing by Tim Ahmann

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