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Broker Complaints: Barclays Capital (CRD# 19714)

The securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against New York-based brokerage firm Barclays Capital (CRD# 19714).

Formed in Connecticut in 1998, Barclays Capital is headquartered in New York, New York and registered with 53 US states and territories. Monty Forrest is Chief Operations Officer; Joseph Gold is Chief Executive Officer; Gerard LaRocca is President; Jill Ostergaard is Chief Compliance Officer; Marcelo Riffaud is Chief Legal Officer.

According to the firm’s BrokerCheck report, Barclays Capital is the subject of 65 regulatory sanctions.

In 2015 the Chicago Board Options Exchange sanctioned Barclays Capital following allegations the firm executed block trades in order to shift risk between two affiliated accounts, unaware of a directive prohibiting it from doing so. The firm was issued a fine of $60,000.

In 2015 the Financial Industry Regulatory Authority (FINRA) sanctioned Barclays Capital following allegations the firm failed to maintain a supervisory system adequately designed to ensure the suitability of mutual fund transactions, and failed to prevent more than 6,100 unsuitable mutual fund switches, resulting in “customer harm” of about $8,630,000. The firm was censured and issued a fine of $3,750,000.

In 2015 FINRA sanctioned Barclays Capital following allegations the firm published the Pan Euro asset-backed security floating rate index, as well as its component indices, with “materially inaccurate coupon return information,” and continued to publish the index for eight months after learning of the inaccuracies without disclosing them to clients. The firm was censured and issued a fine of $1,000,000.

In 2015 FINRA sanctioned Barclays Capital following allegations the firm submitted 58 reports to the Order Audit Trail System that contained “inaccurate, incomplete, or improperly formatted data.” The firm was censured and issued a fine of $40,000

In 2015 FINRA sanctioned Barclays Capital following allegations the firm engaged in transactions that were “potentially inconsistent with just and equitable principles of trade, because they could have disrupted the market for equity securities and the overlying equity options.” Barclays Capital was censured and issued a fine of $125,000.

In 2015 FINRA sanctioned Barclays Capital following allegations the firm failed to identify the correct executing party on roughly “90,000,000 non-media clearing reports with other broker-dealers that were reported to the FINRA/NASDAQ Trade Reporting Facility.” The firm was censured and issued a fine of $800,000.

In 2015 the Commodity Futures Trading Commission sanctioned Barclays Capital following allegations the firm violated the Commodity Exchange Act when it allegedly “attempted to manipulate” the US dollar International Swaps and Derivative Association Fix. The firm was issued a fine of $115,000,000.

If you have lost money investing with Barclays Capital, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 without delay. You may be entitled to recoup your losses. We accept all cases on contingency: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.