Barclays fined $453m for energy market manipulation

Last October, the bank warned shareholders it was facing two US regulatory investigations into its conduct. It has now been ordered to pay fines totalling $453m after the US Federal Energy Regulatory Commission (FERC) said the bank deliberately lost money in energy markets to benefit its financial positions between 2006 and 2008. Four Barclays traders, accused of manipulating prices on an energy index, have also been ordered to pay $18m between them. "FERC finds that their actions demonstrate an affirmative, coordinated and intentional effort to carry out a manipulative scheme, in...