FSA fines Barclays £2.45M over Mifid failures

LONDON - The UK Financial Services Authority (FSA) has fined Barclays Capital Securities and Barclays Bank a record £2.45 million for failing to provide accurate transaction reports and "serious weaknesses" in reporting systems and controls. The fine is the regulator's first enforcement action related to the Markets in Financial Instruments Directive (Mifid) and is "significantly higher" than previous penalties imposed for transaction-reporting errors, reflecting the seriousness of Barc

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