Barclays will pay

December 29, 2015 10:23 AM

Barclays Plc will pay more than $13.75 million to settle a U.S. regulator's charges that it allowed customers to make more than 6,100 unsuitable mutual fund switches, and failed to provide some customers discounts on large fund transactions.

The Financial Industry Regulatory Authority on Tuesday said the British bank's Barclays Capital Inc unit will pay more than $10 million in restitution, including interest, and was fined $3.75 million.

Barclays did not admit or deny wrongdoing in agreeing to settle, FINRA said.

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