Barclays Capital fined £1.12m for client money breaches

For over eight years, between 1 December 2001 and 29 December 2009, Barclays Capital failed to segregate client money maturing from its sterling money market deposits on an intra-day basis. Under the FSA's client money rules, firms must keep client money separate from the firm's money in segregated accounts with trust status. This helps to safeguard and ring-fence the client money in the event of the firm's insolvency. The FSA found Barclays Capital Such segregated client monies overnight but then matured into a proprietary bank account and were mixed on a daily basis with Barcla...