PwC in England faces an investigation into possible misconduct after the auditing firm did not detect Barclays’ failure to segregate client money over an eight-year period.
Barclays Capital, the bank’s investment banking arm, regularly mixed clients’ funds with its own between 2001 and 2009, putting at risk up to £752 million in client money. The bank was fined £1.1million. – (Copyright The Financial Times Limited 2011)
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