The Financial Industry Regulatory Authority, a financial industry watchdog, has fined British bank Barclays $3.75 million for not saving electronic records properly for at least a decade.

FINRA said Thursday that Barclays Capital, the London-based bank's brokerage unit, didn't correctly save electronic records such as order and trade ticket data from at least 2002 through 2012. FINRA also said Barclays Capital did not correctly save emails and instant messages between 2007 and 2010.

"The issues were widespread and included all of the firm's business areas," FINRA said in a statement.

Business-related electronic records are required to be saved to protect investors, FINRA said.

As part of the settlement, Barclays did not admit or deny the charges. Barclays did not respond to a request for comment.

link

The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.