Britain fines Barclays £72m over 'elephant' deal

Britain's financial regulator on Thursday fined Barclays bank £72 million ($109 million, 102 million euros) for failing to carry out proper checks on a vast so-called "elephant" deal for ultra-wealthy clients. The Financial Conduct Authority said Barclays rushed through a huge £1.88-billion transaction in order to secure fees from a number of very rich customers. "The clients involved were politically exposed persons and should therefore have been subject to enhanced le