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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Barclays PLC    BARC   GB0031348658

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Barclays : Former Barclays trader receives $1.2 million fine, industry ban

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05/19/2017 | 09:09pm CEST

The Federal Reserve announced on Friday that it had imposed a $1.2 million fine on a former Barclays Plc foreign exchange trader, and barred him from the banking industry.

The ban on the former trader, Christopher Ashton, had been previously announced in August. The enforcement action was finalised on Friday, after Ashton failed to respond to court proceedings.

The former trader allegedly used chat rooms to coordinate investments and disclose confidential information in foreign exchange trades, the regulator said.

The action followed the board's May 2015 enforcement actions against Barclays for unsafe and unsound practices related to foreign exchange markets, the Federal Reserve said.

Barclays was required to pay $342 million at that time.

In that case, the bank had settled with the New York state financial regulator and faces civil lawsuits stemming from the alleged abuse.

(Reporting by Pete Schroeder; Editing by Jonathan Oatis)

By Pete Schroeder

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Financials ( GBP)
Sales 2017 22 232 M
EBIT 2017 7 029 M
Net income 2017 1 884 M
Debt 2017 -
Yield 2017 1,49%
P/E ratio 2017 18,84
P/E ratio 2018 11,40
Capi. / Sales 2017 1,64x
Capi. / Sales 2018 1,60x
Capitalization 36 457 M
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Average target price 2,25  GBP
Spread / Average Target 5,2%
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James Edward Staley Chief Executive Officer & Director
John McFarlane Non-Executive Chairman
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