Aussie reg­u­la­tor fines Bar­clays units

New Straits Times - - Business -

SYD­NEY: Three units of Lon­don-based Bar­clays Plc have been pe­nalised by Aus­tralia’s se­cu­ri­ties reg­u­la­tor for fail­ing to tell clients they didn’t hold lo­cal fi­nan­cial ser­vices li­censes and in­stead were reg­u­lated over­seas. The Aus­tralian Se­cu­ri­ties & Investments Com­mis­sion (ASIC) said in a state­ment yes­ter­day the units — Bar­clays Cap­i­tal Inc, Bar­clays Cap­i­tal Asia Ltd, and Bar­clays Cap­i­tal Se­cu­ri­ties Ltd — failed to dis­close the in­for­ma­tion to clients or in­form ASIC of the breaches in a timely man­ner.

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