LONDON — The Financial Industry Regulatory Authority on Thursday said it fined Barclays Capital Inc. almost $4 million for what it called “systemic failures” in records retention.
FINRA, the largest independent regulator for securities firms doing business in the United States, fined the London-based bank $3.75 million after an inquiry found that the firm did not preserve electronic records, emails, and instant messages for the required minimum 10 years.
The group said that from 2002 to 2012, Barclays failed to save many of these records in the proper format.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.