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Barclays Pays $10.9M To Settle Insider Trading Claims

Law360 (May 30, 2007, 12:00 AM EDT) -- Barclays Bank PLC will pay over $10.9 million to settle charges it made insider trades using nonpublic information it received while serving on creditor committees of bankrupt companies, the U.S. Securities and Exchange Commission said Wednesday.

In a complaint filed in the U.S. District Court for the Southern District of New York, the SEC alleged that Steven J. Landzberg, the former head propriety trader on Barclays’ U.S. distressed debt desk, traded millions of dollars of bond securities over a period of 18 months while also serving...
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