Page 34 - Barclays Bank (B)
P. 34

The FCA said:


                                “Barclays’ systems and controls over its FX business
                                were “inadequate” and “gave traders in those

                                businesses the opportunity to engage in behaviours

                                that put Barclays’ interests ahead of those of its
                                clients”.




                 Antony Jenkins, Barclays’ chief executive, commented:


                                "The misconduct at the core of these investigations is

                                wholly incompatible with Barclays' purpose and values
                                and we deeply regret that it occurred.  This

                                demonstrates again the importance of our continuing

                                work to build a values-based culture and strengthen
                                our control environment.  We remain completely

                                committed to that effort”. (4)

                                “I share the frustration of shareholders and colleagues

                                that some individuals have once more brought our

                                company and industry into disrepute.  Dealing with
                                these issues, including taking the appropriate

                                disciplinary action against the individuals involved, is a

                                necessary and important part of our plan to transform
                                Barclays and remains a key priority." (4)
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