Barclays has been fined $3.75m (£2.28m) by a US regulator for allegedly failing to keep proper electronic records, emails and instant messages. The shortcomings occurred between 2002 and 2012, said the Financial Industry Regulatory Authority (Finra). Finra said the bank failed to preserve data detailing its orders, confirmation of trades, records of accounts and other information. Barclays did not admit or deny wrongdoing, but agreed to a censure. It had not prevented the information from being altered or destroyed, said Finra. The bank also failed to keep attachments to some Bloomberg emails between 2007 and 2010, and failed to retain about 3.3 million instant messages sent using Bloomberg terminals between 2008 and 2010. Once one instant message with an attachment was processed by the bank, no more could be received that day, Finra said. Brad Bennett, enforcement chief at Finra, said: "Ensuring the integrity, accuracy and accessibility of electronic books and records is essential to a firm's ability to meet its compliance obligations.".....Read more here