Barclays fined £26m over gold price manipulation

Scandal-hit Barclays has been fined more than £26 million pounds after a former trader at the bank was accused of trying to manipulate the price of gold, Britain's financial regulator said on Friday (23/05/2014).

The Financial Conduct Authority said in a statement that it had fined Barclays £26.03 million (43.87 million, 32.18 million euros) "for failing to adequately manage conflicts of interest between itself and its customers as well as systems and controls failings" in relation to a fixed London pricing of gold over a nine-year period to 2013. - AFP