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Violation Tracker Individual Record

Company: Barclays Bank PLC
Current Parent CompanyBarclays
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $105,000,000
Year: 2017
Date: November 7, 2017
Offense Group: competition-related offenses
Primary Offense: energy market manipulation
Violation Description: In 2013 the Federal Energy Regulatory Commission ordered Barclays and four of its traders to pay $453 million in civil penalties for manipulating electric energy prices in California and other western markets between November 2006 and December 2008. FERC also ordered Barclays to disgorge $34.9 million, plus interest, in unjust profits to the Low-Income Home Energy Assistance Programs of Arizona, California, Oregon, and Washington. When Barclays failed to comply with the order FERC filed a lawsuit against the company which was ultimately resolved in a 2017 settlement under which Barclays agreed to pay $105 million (consisting of a $70 million civil penalty and $35 million in disgorgement).
Level of Government: federal
Action Type: agency action
Agency: Federal Energy Regulatory Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: United Kingdom
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.