FERC Notice - Barclays Statement
01 Nov 2012 16:13 GMT
We are disappointed by the action that FERC took on 31 October and strongly disagree with the allegations made by FERC against Barclays and its former traders in the FERC’s Order To Show Cause.
We believe that our trading was legitimate and above-board. The Order To Show Cause is by its very nature a one-sided document, and does not reflect a balanced and full description of the facts or the applicable legal standard. We have cooperated fully with the FERC investigation, which relates to trading activity that occurred several years ago. We intend to vigorously defend this matter.
Barclays is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management with an extensive international presence in Europe, the Americas, Africa and Asia. Barclays’ purpose is to help people achieve their ambitions – in the right way.
With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.