Barclays fined $62M

Barclays PLC was fined £37.7 million ($61.9 million) Tuesday by the U.K. Financial Conduct Authority for failing to safeguard client assets at its investment bank, in the second rap for the bank since 2011 over the way it handles customer funds.

The FCA claimed around £16.5 billion in client assets were at risk between November 2007 and January 2012, a product of weak arrangements between the bank and third parties that handled client trades, according to the Wall Street Journal.

"Barclays failed to apply the lessons from our previous enforcement actions, numerous industrywide warnings and exposed its clients to unnecessary risk," said Tracey McDermott, FCA director of enforcement and financial crime.

Read more from the Wall Street Journal.