London’s Legal Week newspaper reports that the main lump of the penalty is from the US Commodity Futures Trading Commission, with the agency delivering its largest-ever fine of £130m. The US Department of Justice is slapping Barclays with an additional £100m fine, while the UK’s Financial Services Authority is handing out a £59.5m fine – its biggest penalty so far.
Barclays was represented by a team led by Sullivan partners Steven Peikin, David Braff, Jeffrey Scott and special counsel Matthew Fitzwater.
The firm bagged the role after being appointed to Barclays’ general advisory panel last July along with fellow New Yorkers Cleary Gottlieb Steen & Hamilton and Shearman & Sterling.