Barclays will probably be fined for violating a three-year-old settlement over interest-rate rigging, but U.S. prosecutors will stop short of seeking a guilty plea, which they are demanding from UBS, people familiar with the matter said.
Bloomberg News reports that the fine would come on top of a penalty that the Justice Department is poised to announce in coming days when it resolves a probe of Barclays and four other banks for manipulating currency benchmarks, said three people, who asked not to be named because the decision isn’t final.
The size of the fine isn’t clear but as of a few weeks ago was around $60m, one of the people said. Negotiations are continuing and the terms and penalty amounts could change, the people said.
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