Barclays fined £2.45m for poor data handling

Data provided by Barclays Bank and Barclays Capital Securities contained a number of discrepancies and errors, which the FSA says hampered its investigations into market abuse. The firms were fined a total of £2.45m for their poor reporting, and have been ordered to improve systems and controls. Firms are required to provide the FSA with data of reportable transactions by close of business the day following a trade execution, which the regulator uses to investigate insider trading and market abuse. While reviewing a suspected incident of market abuse by a third party, the FSA disco...