Further investigations into Barclays
The DOJ and SEC have informed Barclays that they are undertaking an investigation into whether the Group’s relationships with third parties who assist Barclays to win or retain business are compliant with the United States Foreign Corrupt Practices Act.
This latest investigation into Barclays’ conduct was documented in its interim management statement released today where Barclays has confirmed it is fully co-operating with the US departments.
The Bank has been beleaguered by scandals and claims of misconduct in recent years. In 2011 the bank set aside £1bn to pay compensation for payment protection insurance and this summer Barclays was accused of rigging LIBOR rates for which it is still being investigated.