Barclays hopes a $50 million fine will draw a line under a long dispute with U.K. authorities over its efforts to stay afloat—and avoid a state bailout—when the financial system seized up in 2008. In 2022, the U.K.'s Financial Conduct Authority levied a slightly bigger fine. Barclays had planned to contest the penalty in court, starting this week.
Joe Wallace is a Reporter at the Wall Street Journal. He covers a range of topics within finance, trading, and the banking sector, with a focus on financial markets, personal finance, and the impact of inflation, AI, and aviation on the economy. Joe's work has been featured in notable publications including The Wall Street Journal, MarketWatch, and Yahoo Finance.