US regulator Finra has slapped Barclays Capital with a $3.75 million fine for a decade-long failure to properly preserve electronic records, e-mails and instant messages.
On current form Barclays appear to of been guilty of most market abuses and manipulation since 2002 ............. Therefore very clever to suddenly lose all trading data for a decade . A $4 m fine for miss data that probably showed mass market abuse is better
than the hundreds of millions they would of incurred if taken to court . I Struggle to believe the regulators have fallen for this trick . Years ago REFCO burnt down warehouses full of trading data when regulators came snooping ! Another reason why Barclays
are still not fit to carry on trading ; perhaps theres a few retired staff looking over their shoulders now too ?
Competitive base, double OTELondon, UK
© Finextra Research 2015