The U.S. Securities and Exchange Commission (SEC) fined Barclays Plc $97 million for allegations that the bank falsely charged clients for services that were not being performed. Customers were overcharged nearly $50 million because of violations like imposing fees for due diligence that was never performed and collecting excess mutual fund fees by steering clients into more expensive share classes. The bank will pay a $30 million penalty and more than $60 million in disgorgement and prejudgment interest. If you were a client of Barclays, please call our securities law firm today at 312-332-4200 to find out how to reclaim your losses on a contingency fee basis. The call is free with no obligation.
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