Barclays share price: Regulator visits bank 186 times in 2014

on Jul 21, 2015
Updated: Oct 21, 2019

Barclays (LON:BARC) was subjected to more regulatory scrutiny than any other UK high street bank last year. The Financial Conduct Authority’s (FCA) supervisory team carried out 186 visits to Barclays in 2014 – more than twice as many as the next most-visited lender — according to data released under a Freedom of Information request by Bloomberg.

The FCA met with HSBC (LON:HSBA), which was second on the list, 85 times in 2014. Royal Bank of Scotland (LON:RBS) was visited by the City watchdog 65 times, while Lloyds Banking Group (LON:LLOY) was fourth with 58.
All the banks have received fines from the FCA in recent years, although Barclays has been the focus of particular public attention since it received a £290 million fine for rigging the interbank lending rate, or Libor, in 2012. The comparatively high number of visits is also believed to be partly due to the scope of the lender’s businesses, which include Barclaycard.

In separate Barclays news, the lender has hired two senior energy traders, according to an internal memo seen by Reuters. Russell Ballato, previously global head of energy trading at Credit Suisse, is set to join Barclays later this week as a New York-based managing director and head of energy trading. The other hire, Chris Tyrer, who worked at Barclays from 2001 to 2011, will return to the group later this month as a director and head of European energy trading. “These hires reaffirm the firm’s commitment to the business,” the memo stated.
As of 09:11 BST, Barclays’ share price was 0.18 percent higher at 281.40p, recovering from an earlier decline.
As of 09:47 BST, Tuesday, 21 July, Barclays share price is 281.88p.

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