FINRA v. Barclays Capital Inc.

Barclays Capital Inc. allegedly failed to establish and maintain a supervisory system, including WSPs, reasonably designed to supervise employee outside brokerage accounts. According to FINRA, from July 2021 through June 2022, the firm failed to either collect or timely review approximately 8,200 account statements from approximately 700 employee-held outside brokerage accounts. During this period, the firm’s employees executed 161 trades in these outside accounts without first obtaining preclearance of the trades.

Summary generated from official Financial Industry Regulatory Authority press release