Reuters logo
Barclays to pay $97 mln to settle charges it overcharged clients
May 10, 2017 / 4:10 PM / 6 months ago

Barclays to pay $97 mln to settle charges it overcharged clients

WASHINGTON, May 10 (Reuters) - Barclays will pay more than $97 million to settle civil charges, after U.S. regulators said Wednesday the company overcharged clients from its asset management business by millions of dollars.

The Securities and Exchange Commission said that Barclays settled the matter without admitting or denying the charges, which allege that it collected excess mutual fund sales charges, charged fees for services that were not properly rendered and made numerous other billing errors.

Reporting by Sarah N. Lynch

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below