Barclays thought set for record fine

A Billion Dollars

The City watchdog is expected to hand out its biggest-ever fine to Barclays on Wednesday as the British bank becomes the last major financial institution to settle foreign exchange rigging allegations in the UK.

The Daily Telegraph reports that the Financial Conduct Authority is expected to make Barclays pay at least £250m, outstripping the sums other banks paid out to the regulator in November.

The fine will come as part of more than £4bn in penalties expected on Wednesday for Barclays, Royal Bank of Scotland, UBS, JPMorgan and Citigroup for currency rigging, the vast majority of which will be paid to US regulators.

To access the complete Daily Telegraph article hit the link below:

Barclays set for record UK bank fine

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