The Financial Services Authority (FSA) is investigating claims that Barclays mis-sold complex financial contacts called swaps to business clients.
The regulator said it plans to “consider appropriateness of the product and how it was sold”.
Barclays Apologises to FSA after imposing swaps secrecy clause on customers
According to The Telegraph, Barclays have been made to formally apologise to The Financial Services Authority (FSA) after evidence uncovered by The Telegraph revealed that the bank had demanded its clients withold information from the regulator over the sale of contraversial “swap” products.
Barclays: Cameron says bank faces ‘serious questions’
Prime Minister David Cameron has said that Barclays Bank management has “serious questions” to answer over how it manipulated banking lending rates.