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Articles Tagged with Barclay’s Capital

Barclays Capital Inc. (Barclays) of New York submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) for allegedly knowingly publishing inaccurate index returns for approximately eight months. Barclays, a large full service broker dealer and bank stationed in New York, faced similar allegations in 2011 for allegedly posting inaccurate delinquency rates.

FINRA found that Barclays, from November 2010 through February 20, 2014, published “material inaccurate coupon return information” in connection to the firm’s Pan Euro ABS Floating Rate Index (Index). FINRA found that the false publications began in November 2010 after Barclays changed its method of calculating coupon rates and adopted a new coupon return data provider. Thereafter, FINRA alleged Barclay’s information technology group of London changed the proprietary pricing and valuation system in an effort to improve analytics. Continue Reading

Louis Anthony Tinoco Jr., a former Registered Representative with Miami, Florida-based Barclay’s Capital Inc. (Barclay’s), submitted a Letter of Acceptance, Waiver and Consent in which he consented to, but did not admit to or deny, the Financial Industry Regulatory Authority’s (FINRA) sanctions and findings that he provided a false account summary to his customer in order to conceal the losses incurred due to his trading activity.

According to FINRA, Louis Tinoco provided his customer with a chart that supposedly reflected the monthly value of the customer’s Barclay’s account. The chart, prepared by Mr. Tinoco, overstated the actual value of the customer’s account by more than $200,000. Additionally, Mr. Tinoco failed to respond to FINRA’s request to appear and provide testimony in connection with their investigation, which is a violation of FINRA Rule 8210. Louis Tinoco, of Miami Beach, Florida, was permanently barred from association with any FINRA member in any capacity. Continue Reading

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