British bank Barclays agreed to a $361 million penalty over internal control failures related to the unregistered offer and sale of “an unprecedented amount” of securities, the U.S. Securities and Exchange Commission (SEC) said on Thursday.
The conduct concerned dates back to March this year when Barclays disclosed that it had accidentally oversold complex structured and exchange-traded notes, overshooting by about 75 percent a $20.8 billion limit on such sales it had agreed with the SEC.
