Barclays could face £290m energy fine

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Barclays could be fined £290m by the US Federal Energy Regulatory Commission over energy market manipulation.

According to the Financial Times, the bank, which was fined earlier this year by the FSA for manipulating Libor, is to be fined £270m fine and £20m disgorgement.

The offences relate to violations of the anti-manipulation rule in the electric energy market.

Yesterday, Barclays revealed it faced two further probes in the US as the group announced a third quarter pre-tax loss of £47m.