Barclays
has been fined a record £38m by the City regulator for failing to keep its
clients' money separate from its own.
The fine
comes three years after Barclays paid out £1.1m for a similar issue.
The
Financial Conduct Authority (FCA) said the bank's investment arm had put
£16.5bn of clients' money "at risk" between November 2007 and January
2012.
Barclays
said it did not profit from the issue and no customers lost out.
"Clients
risked incurring extra costs, lengthy delays or losing their assets if Barclays
had become insolvent," the FCA said.
And FCA
director of markets David Lawton said safeguarding client assets was
"key" to maintaining market confidence.
"Barclays
lack of focus on the rules was unacceptable," he added.
Barclays,
which
