All told, the bank overcharged tens of thousands of brokerage clients by $50 million, the SEC said.
May 10, 2017 at 04:05 PM
1 minute read
Barclays Capital agreed to a $97 million refund settlement with the U.S. Securities and Exchange Commission Wednesday over the U.K.-based bank’s collection of excess charges and fees from tens of thousands of brokerage clients.
In one of the complaints, federal regulators said Barclays charged fees to 2,000 clients for due diligence and monitoring of investors that weren’t being performed “as represented.”
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