Regulators fine Barclays $150m over last look

Barclays' penalty for FX-related misconduct is now $635 million

New York banking regulators fined Barclays $150 million in relation to FX probe

The New York State Department of Financial Services (NYDFS) has levied a fine of $150 million against Barclays over the bank's use of last look on its electronic trading systems, pushing the total bill for the FX investigation to $635 million for the UK bank.

As part of the penalty, the bank was also forced to let go an unnamed global head of electronic fixed income, currencies and commodities (eFicc) automated flow trading, who the NYDFS said "played a role in the misconduct".

Last look enables

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