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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/barcap-fined-11m-over-cash-risk.jpg"><img class="alignnone size-full" title="Barclays chief executive Bob Diamond was head of the company's investment banking arm at the time of the offence" src="http://londonglossy.com/wp-content/uploads/2011/01/min-barcap-fined-11m-over-cash-risk.jpg" alt="Barclays chief executive Bob Diamond was head of the company's investment banking arm at the time of the offence"/></a></p>
<p>Investment bank Barclays Capital has been fined £1.1 million for failing to ring-fence client money in one of its accounts for more than eight years.</p>
<p>BarCap &#8211; headed at the time by Bob Diamond, who was appointed chief executive of parent group Barclays on January 1 &#8211; put millions of pounds of client cash at risk of potential loss, according to the Financial Services Authority (FSA).</p>
<p>The FSA said BarCap committed a &#8220;serious breach&#8221; of rules after it failed to segregate client cash in sterling money market deposits from its own funds for up to seven hours a day between December 1, 2001, and December 29, 2009.</p>
<p>Up to £752 million was held in the account at any one time, which would have been at risk if BarCap had gone bust.</p>
<p>The fine follows a £33.3 million FSA charge on fellow investment bank JP Morgan last June for a similar offence.</p>
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