Barclays agrees to $361 million settlement with SEC for over-issuance of securities
The Securities and Exchange Commission charged Barclays PLC for the sale of $17.7 billion in unregistered securities, the regulator said Thursday. "This case highlights why it is essential for firms like Barclays to have robust internal controls over their offers and sales of securities," said Gurbir S. Grewal, director of the SEC's Division of Enforcement, in a statement. "The control deficiencies and the scope of the conduct at issue here was simply staggering." The bank agreed to pay a $200 million civil penalty and a disgorgement and prejudgment interest of more than $161 million in connection with the case. Barclays self reported its over-issuance to regulators and provided "meaningful cooperation" during the SEC's investigation, the SEC said.
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