Barclays Readies $308M For US Sanctions Deal

Law360, New York (August 5, 2010, 3:39 PM EDT) -- British banking giant Barclays PLC said Thursday it had set aside approximately $308 million to cover potential settlements with U.S. law enforcement agencies for violating sanctions imposed by the United States.

Barclays said in an earnings report that it had been conducting an internal review of whether it had been involved in payments “involving countries, persons and entities subject to U.S. economic sanctions.”

The bank said discussions with the U.S. Department of Justice, the New York County District Attorney's Office and the U.S. Treasury Department's Office...
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