Barclays, Barclays Bank to Pay SEC $361 Million for Securities Over-Issuance
29 Setembro 2022 - 06:32PM
Dow Jones News
By Denny Jacob
The Securities and Exchange Commission on Thursday said Barclays
PLC agreed to pay $361 million to resolve charges over an
unregistered offer and sale for securities.
The SEC said Barclays and Barclays Bank PLC agreed to pay a $200
million civil penalty. The regulator also ordered Barclays Bank to
pay disgorgement and prejudgment interest of more than $161
million.
Both firms restated their year-end 2021 financial statements
filed with the SEC as a result of over-issuances and internal
control failure, the regulator said.
The charge stems from events in May 2017, when Barclays Bank had
to quantify the total numbers of securities that it expected to
offer, sell and pay registration fees for those offerings in a new
registration statement following a settled action against an
affiliate.
Barclays Bank needed to track actual offers and sales of
securities against the number of registered offers and sales on a
real time basis given this requirement, but no internal control was
established, the SEC said. Barclays Bank offered and sold about
$17.7 billion of securities in unregistered actions as a result due
to the lack of internal control, the regulator said.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
September 29, 2022 17:17 ET (21:17 GMT)
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