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Barclays pays $10.9m settlement

LONDON (Bloomberg) — Barclays Plc, the UK's third-biggest lender, agreed to pay $10.9 million to settle a US regulator's lawsuit claiming the bank made millions of dollars in illegal profit trading bonds based on confidential bankruptcy data.The US Securities and Exchange Commission filed the suit against the bank yesterday in federal court in Manhattan, announcing the settlement at the same time. The agency sued and settled similar claims with Steven Landzberg, 40, the former head of proprietary trading for Barclays' US distressed-debt desk. "Barclays and Landzberg misappropriated material non-public information," the SEC said in its complaint, referring to data he got by serving on creditor committees in bankruptcy cases on the bank's behalf.