Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Barclays Capital, Inc. Fined by FINRA

Meyer Wilson conference room banner image 1

FINRA has announced that Barclays Capital, Inc. has submitted a Letter of Acceptance, Waiver, and Consent after findings showed the firm allegedly had inadequate supervisory systems and written supervisory procedures involving the sale of mutual funds to brokerage customers.

According to FINRA’s investigation, for at least 5 years, Barclays Capital, Inc.:

  • Failed in providing adequate supervisory guidance to ensure suitable mutual fund transactions
  • Failed in identifying unsuitable mutual fund transactions, such as switches
  • Failed in notifying clients of costs of switches
  • Incorrectly defined mutual fund switches
  • Failed in having a system to household or aggregate mutual fund purchases, ensuring customers received available breakpoint discounts

Barclays alleged actions were violations of NASD Rules 2310(a), 3010(a) and (b), and FINRA Rules 2010, 2111(a), and 3110(a) and (b). By submitting the AWC, Barclays consented to FINRA’s sanctions, including a $3,750,000 fine.

Do you believe you have a case against Barclays Capital, Inc.? See if you can file a claim and what you may be entitled to by scheduling your free case evaluation with our securities fraud attorneys at Meyer Wilson. Call today to get started.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram