http://online.wsj.com/article/SB10001424127887323978104578330483095795290.html
Barclays [BARC.LN +1.62%] PLC has taken away around £300 million
($454 million) of deferred bonuses promised to staff to pay for an array of
misdeeds that haunted the bank over the past year, a person briefed on the
matter said Wednesday.
In 2012, Barclays was fined for attempting to rig interbank lending rates and
is having to compensate customers who were wrongly sold interest-rate hedging
products and payment-protection insurance protection. Many of the problems
spanned over several years. By claiming back deferred variable pay, the bank is
hoping to spread the impact of the fines over several years, this person said.
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