Violation Tracker Individual Record

Company: 
Barclays Bank PLC
Current Parent Company: 
Barclays
Penalty: 
$15,000,000
Year: 
2018
Date: 
December 18, 2018
Offense Group: 
employment-related offenses
Primary Offense: 
workplace whistleblower retaliation
Violation Description: 

The Department of Financial Services fined Barclays Bank PLC and its New York branch $15 million for violations of New York Banking Law stemming from a DFS investigation into attempts by the bank's CEO to identify the author(s) of two whistleblowing letters in contravention of Barclays' established whistleblowing policies and procedures. The DFS investigation found that shortcomings in governance, controls and corporate culture relating to Barclays' whistleblowing function permitted a sequence of events that potentially could have had a detrimental impact on the efficacy of the bank's whistleblowing program.

Level of Government: 
state
Action Type: 
agency action
Agency: 
New York Department of Financial Services
Civil or Criminal Case: 
civil
Facility State: 
New York
HQ Country of Parent: 
United Kingdom
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
banking
Specific Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.