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Published: Friday, 12/27/2013


Barclay’s fined nearly $4M for record keeping


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.

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