Barclays (BCS) Stock Down, CFTC Fines $560,000
NEW YORK (TheStreet) -- Shares of Barclays (BCS) - Get Report are declining 2.29% to $7.05 on heavy trading volume late Wednesday afternoon after the U.S. Commodity Futures Trading Commission fined the London bank $560,000 for failing to submit accurate large trader reports for physical commodity swap positions.
The CFTC determined that between July 2012 and March 2013, Barclays submitted reports with incorrect information about traders' positions for certain transactions, according to a statement by CFTC.
Barclays did the same the following year for positions related to crude oil, natural gas, gasoline, heating oil and agricultural products.
About 22.51 million shares of Barclays have been traded so far today vs. its average trading volume of roughly 16.32 million shares per day.