Barclays to pay $15 million over compliance failures tied to Lehman deal

WASHINGTON (Reuters) - A unit of Barclays will pay $15 million to settle charges alleging it failed to maintain an adequate internal compliance system after its acquisition of part of Lehman Brothers during the 2008 financial crisis, U.S. regulators said Tuesday. The Securities and Exchange Commission said Barclays Capital will also be required to undertake certain remedial steps, including hiring an independent compliance consultant. The SEC said Barclays failed to enhance its compliance program after it bought Lehman's advisory business following Lehman's collapse. The shortcomings in its compliance program, the SEC said, led Barclays to commit a variety of other violations of federal laws governing investment advisers. (Reporting by Sarah N. Lynch; Editing by Doina Chiacu)