The Financial Industry Regulatory Authority said on Thursday that it fined Barclays Capital $3.75 million over its failure to properly retain records.
The group, the self-regulatory arm of the brokerage industry, said Barclays failed to properly keep about 3.3 million Bloomberg instant messages from October 2008 to May 2010. The group also said that the firm failed to properly retain certain attachments to Bloomberg emails from May 2007 to May 2010.
Finra also found that from at least 2002 to 2012, Barclays did not preserve many of its required electronic books and records, including order and trade ticket data, trade confirmations, blotters, account records and other similar records.
“The issues were widespread and included all of the firm’s business areas, thus, Barclays was unable to determine whether all of its electronic books and records were maintained in an unaltered condition,†Finra said in a statement.
As part of the settlement, Barclays neither admitted nor denied the charges.
A spokesman for Barclays declined to comment on the action.
