Barclays Settles Charges for Failing to Reasonably Supervise Two Former Traders

Posted on May 31st, 2017 at 11:46 AM
Barclays Settles Charges for Failing to Reasonably Supervise Two Former Traders

From the Desk of Jim Eccleston at Eccleston Law LLC:

Barclays has settled charges with the SEC regarding its failure to reasonably supervise two former traders by not implementing supervisory procedures to prevent and detect the former traders’ misrepresentations.  According to the SEC, the two former traders made false and misleading statements to Barclays’ residential mortgaged-backed securities customers. For example, the two former trades misled their customers about the price, profit, and ownership of the securities. A result of their misrepresentations, the two former traders made Barclays a profit of more than $15.5 million.

Without admitting or denying the findings of fact, Barclays agreed to directly pay customers approximately $15,561,711, representing all of the profits earned on the transactions that are the subject of the order.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial advisors including Broker Litigation & Arbitration, Strategic Consulting Services, Regulatory  Matters, Transition Contract Review, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

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Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.


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