The Securities and Exchange Board of India said Wednesday that it has barred Barclays Bank PLC from issuing and trading in offshore derivative instruments.
"Barclays has not only failed to provide true, fair and complete details of the offshore derivatives activity undertaken by it, but also prima facie violated the provisions of foreign institutional investor regulations by furnishing false and incorrect information to SEBI," a copy of the regulator's order on its Web Site showed Wednesday.
Barclays Bank officials in Mumbai could not immediately be reached for comment.
