Barclays Slapped With $44 Million Gold Price Fixing Fine

Now watching

Next video starts in : 7 Play

Barclays Slapped With $44 Million Gold Price Fixing Fine

Barclays Slapped With $44 Million Gold Price Fixing Fine
Replay video
Up next

Steve Harvey Loses His Cool on ‘Family Feud’ on ‘This Week in Game Shows’

Unlock your personal NFL Now stream by signing in to NFL.com

Barclays Slapped With $44 Million Gold Price Fixing Fine

by TheStreet.com Videos 0:58 mins

Barclays Slapped With $44 Million Gold Price Fixing Fine

by TheStreet.com Videos 0:58 mins

British regulators fined Barclays $43.9 million for one of its traders improperly trying to set the price of gold. The trader, named Daniel James Plunkett, who also received about a $160,000 fine, placed orders in 2012 to drive down the price of gold at a period in the afternoon when five major banks typically fix the price of gold intended for bulk purchasers of the yellow metal. The practice of this so-called "fix" has occurred since 1919. Barclays CEO Antony Jenkins said in a statement about the fine: "We very much regret the situation that led to this settlement. Barclays has undertaken a significant amount of work to enhance our systems and controls and is committed to the highest standards across all of our operations."

Must Watch

Must Watch

  1. 2:18

    Steve Harvey Loses His Cool on ‘Family Feud’ on ‘This Week in Game Shows’

  2. 28:13

    Community Episode 6: Basic Email Security

  3. 2:13

    'Batman v Superman: Dawn of Justice' Teaser Trailer

  4. 0:37

    Star Wars Fans React To New Trailer

  5. 2:12

    David Hasselhoff Unleashes Insane 80s-tastic Music Video on Unsuspecting Internet

  6. 2:02

    Neil Degrasse Tyson Talks Aliens, Moon Landing

Other Space

  1. 27:05

    Other Space Episode 1: Into the Great Beyond...Beyond

  2. 25:20

    Other Space Episode 2: Getting to Know You

  3. 25:51

    Other Space Episode 3: The Death of A.R.T.

  4. 25:46

    Other Space Episode 4: Ted Talks

  5. 26:44

    Other Space Episode 5: Trouble's Brewing

  6. 27:02

    Other Space Episode 6: Powerless

Community

  1. 27:26

    Community Episode 1: Ladders

  2. 27:26

    Community Episode 2: Lawnmower Maintenance and Postnatal Care

  3. 24:40

    Community Episode 3: Basic Crisis Room Decorum

  4. 30:58

    Community Episode 4: Queer Studies and Advanced Waxing

  5. 28:45

    Community Episode 5: Laws of Robotics and Party Rights

  6. 28:13

    Community Episode 6: Basic Email Security