Barclays to fire staff after FX fines

Antony Jenkins Barclays

Barclays pleaded guilty to a U.S. criminal charge and was fined $2.4bn by U.S. and British authorities on Wednesday for manipulating foreign exchange rates.

Reuters reports that the bank also agreed to fire eight employees as a result of the settlement, according to the New York Department of Financial Services (NYDFS).

The bank will pay $710m to the U.S. Department of Justice, $485m to the NYDFS, $400m to the Commodities Futures Trading Commission and $342 to the U.S. Federal Reserve. It was also fined a record $441m, by Britain's Financial Conduct Authority.

Barclays was one of five banks to be fined a total of $5.7bn by authorities on Wednesday. 

To access the complete Reuters article hit the link below:

Barclays fined $2.4 billion for FX manipulation, to fire eight staff

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