Page 34 - Barclays Bank (B)

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)