The Financial Services Authority (FSA) has fined Barclays Bank plc (Barclays) £7.7 million for failures in relation to the sale of two funds. In addition to the fine, it has been estimated that this operational failure could cost Barclays up to £60 million in compensation, £17 million of which has already been paid out to customers.

This fine is the largest imposed by the Financial Services Authority for a case involving retail investors and the sixth largest in the regulator’s history.

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Read Barclays statement

Read the FSA press release in full