Barclays to Pay Nearly $1.3M Over Fingerprint Failures

The Financial Industry Regulatory Authority has censured and fined Barclays Capital $1.25 million for failing to fingerprint and screen non-registrered associated persons in the U.S. and in foreign locations.

From at least January 2013 to the present, Barclays did not fingerprint and properly screen any of its non-registered associated persons based in foreign locations who were required to be fingerprinted and screened under Exchange Act Rule 17f-2, including 2,317 non-registered associated persons based in foreign locations who are currently associated with the firm, FINRA’s order states.

“Barclays is unable to determine how many former non-registered associated persons based in foreign locations should have been fingerprinted and whether any of those individuals were subject to statutory disqualification, because they are no longer associated with the firm,” the order states.

During the time period, Barclays also failed to establish and maintain a supervisory system, including written procedures, reasonably designed to comply with fingerprinting requirements.

Barclays has its principal place of business in New York, and employs approximately 2,800 registered reps in 16 branch offices.

Between January 2013 and September 2023, Barclays also failed to timely fingerprint 1,663 non-registered associated persons based in the U.S.