ipath bloomberg precious met (JJP) Key Developments
The Financial Conduct Authority Fines Barclays £38 million for Clients' Assets Breach
Sep 23 14
Barclays is facing another huge fine imposed by the City regulator, the Financial Conduct Authority. The bank is expected to be stung with a £38 million fine for failing to ensure adequate protection of clients' funds. In particular, the fine relates to the banking giant's failure to keep proper records and to correctly segregate clients' assets.
Barclays Names Akshaya Bhargava as Chief Executive of Its Wealth and Investment Management Business
Sep 22 14
Barclays has named Akshaya Bhargava as chief executive of its Wealth and Investment Management business. Bhargava (pictured) replaces Peter Horrell, who stepped down earlier this year after 23 years' service. He will join Barclays on 13 October 2014 from InfraHedge, the company he founded in 2010, which was acquired by State Street Corporation at the end of 2013.
The Law Offices of Vincent Wong Announces Class Action Lawsuit Against Barclays PLC
Sep 17 14
The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased Barclays PLC common stock between August 2, 2011 and June 25, 2014. The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that, the company used its dark pool to favor high-frequency traders over its other clients, that the company routed a disproportionately high percentage of client orders to its own dark pool while falsely representing that it routed client orders in a manner that did not favor Barclays LX; and that Barclays' practices subjected it to regulatory scrutiny and significant reputational harm.
Barclays PLC Presents at KBW European Financials Conference 2014, Sep-15-2014
Sep 12 14
Barclays PLC Presents at KBW European Financials Conference 2014, Sep-15-2014 . Venue: London, United Kingdom.
Barclays PLC Announces Board Changes
Sep 12 14
Barclays PLC and Barclays Bank PLC announce that John McFarlane has been appointed as a non-executive director of Barclays with effect from 1 January 2015 and will succeed Sir David Walker as chairman of Barclays with effect from the conclusion of the Barclays PLC AGM in 2015. Sir David Walker will step down as a director and as chairman of Barclays with effect from the conclusion of the Barclays AGM in 2015. John McFarlane is currently chairman of Aviva plc, having joined the Aviva Board in September 2011 and becoming chairman in July 2012. He is also chairman of FirstGroup plc and he will be stepping down from both positions at the conclusion of their AGMs in April and July 2015, respectively. Mr. McFarlane will remain a non-executive director of Westfield Holdings Ltd. and Old Oak Holdings Ltd. Mr. McFarlane has a strong track record as a CEO and subsequently as a chairman. He brings extensive experience of investment, corporate and retail banking, as well as insurance, strategy, risk and cultural change.