Former Barclays trader fined and banned

The Federal Reserve Board has has announced it has finalized administrative proceedings against Christopher Ashton, a former institution-affiliated party of Barclays Bank PLC, London, England, ordering that he pay a civil money penalty of $1.2 million and be permanently banned from employment in the banking industry. The enforcement proceedings against Ashton follow the Board's May 2015 enforcement actions against Barclays for unsafe and unsound practices related to its compliance and control failures concerning its practices in the FX markets. The Board required Barclays to pay $342 million in penalties.