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Finra fines BarCap over electronic record keeping

UK bank's investment banking unit to pay $3.75 million penalty

The Financial Industry Regulatory Authority has fined Barclays Capital $3.75 million for failing to keep electronic records properly for at least 10 years.

Finra said that from at least 2002 to 2012 Barclays Capital allegedly did not preserve many of its required electronic books and records, including order and trade ticket data, trade confirmations, account records and other items in the proper format. Business-related electronic records must be kept in a non-rewritable, non-erasable format, according to Finra and federal securities law.

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