The Financial Industry Regulatory Authority (FINRA) has fined Barclays Capital, Inc. $3 million for inaccurate representation and lack of supervision related to their issuance of residential subprime mortgage securitizations (RMBS).
From March 2007 through December 2010, Barclays provided false information to investors regarding historical delinquency rates for three subprime RMBS it underwrote and sold. The inaccurate information was posted on their website and subsequently referenced in dealings with investors.
Barclays was also fined for failure to have a system in place to ensure the accuracy of what was posted to the its website.
If you were adversely affected by relying on Barclays' inaccurate information between March 2007 and December 2010, please call The Law Offices of Jonathan W. Evans & Associates for an investigation and consultation.
News: FINRA Fines Barclays Capital $3 Million for Misrepresentations Related to Subprime Securitizations