Defendant Name: Barclays Capital Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Barclays PLC
SIC Code: 6029
CUSIP: 06738E20

Initial Case Details

Legal Case Name In the Matter of Barclays Capital Inc.
First Document Date 23-Sep-2014
Initial Filing Format Administrative Action
File Number 3-16154
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Sections 204(a), 206(2), 206(3), 206(4), 207 Investment Advisers Act; Rules 204-2(a)(8), 204-2(a)(15), 206(4)-2, 206(4)-7 Investment Advisers Act

Resolutions

First Resolution Date 23-Sep-2014
Headline Total Penalty and Disgorgement $15,000,000

Related Documents:

2014-211 23-Sep-2014 Press Release--Administrative Proceeding
SEC Charges Barclays Capital with Systemic Compliance Failures After Acquiring Lehman's Advisory Business
On September 23, 2014, the SEC announced that it "charged Barclays Capital Inc. with failing to maintain an adequate internal compliance system to ensure the firm did not run afoul of any federal securities laws after its wealth management business in the U.S. acquired the advisory business of Lehman Brothers in September 2008."
34-73183 23-Sep-2014 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On September 23, 2014 the SEC instituted settled administrative and cease-and-desist proceedings against Barclays Capital Inc. According to the SEC: "This matter concerns violations of the Advisers Act by BCI, a dually-registered investment adviser and broker-dealer, arising from systemic failures at BCI after it acquired Lehman Brothers Inc.'s ('Lehman's') advisory business in September 2008. When BCI attempted to integrate this advisory business into its existing business, it did not take the necessary steps to assure that its infrastructure was enhanced to support the newly acquired advisory business, it failed to adopt and implement written policies and procedures reasonably designed to prevent violations of the Advisers Act, and it failed to make and keep certain required books and records.