Barclays facing two more US investigations

31 October 2012

Barclays is set to face another two regulatory investigations into its business practices in the US, it has emerged.

The under-fire British bank published its interim management statement for the third quarter of the year this morning (31 October) and revealed that the Department of Justice and the Securities and Exchange Commission are analyzing whether or not it has breached the Foreign Corrupt Practices Act.

Earlier this year, Barclays was hit with fines totalling around $450 million from bodies on both sides of the Atlantic for its involvement in the Libor rigging scandal.

And the company could now face further sanctions as new chief executive Antony Jenkins seeks to enhance its reputation.

"While we have much to do to restore trust among stakeholders, our universal banking franchise remains strong and well positioned," he noted.

The bank stated that its pre-tax profit in the third quarter of 2012 stood at £1.73 billion ($2.78 billion).

By Asim Shah

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