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MSE News: Barclays fined £2.45 million by watchdog
Former_MSE_Guy
Posts: 1,650 Forumite
This is the discussion thread for the following MSE News Story:
"Barclays has been fined £2.45 million by the City watchdog for "serious weaknesses" at its investment banking arm, it was announced today.
This is the eighth-largest ever fine imposed by the Financial Services Authority (FSA)..."
"Barclays has been fined £2.45 million by the City watchdog for "serious weaknesses" at its investment banking arm, it was announced today.
This is the eighth-largest ever fine imposed by the Financial Services Authority (FSA)..."
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Comments
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Not a very big fine really, doesn't discourage it happening again!
Don't quite see the relevance to bank accounts - it occured within their investment banking division0 -
Is this really the right thing to be doing?! Its a well known fact that banks are struggling, so surely planting a fine on them isn't the correct course of action. New laws should be introduced that would allow the FSA to implement "orders" which forces banks such as Barclays to put correct systems in place, rather than just taking money off them.Student.
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I would suggest that £2.45 million is about 1 minutes turnover for Barclays. Don't think they will lose much sleep.0
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