Barclays PLC faced a double-barreled assault from U.S. authorities, as the federal energy-market regulator sought a record $435 million in penalties for the bank's alleged manipulation of U.S. electricity markets, and the lender also disclosed that it was facing a U.S. anti-corruption investigation, the Wall Street Journal reported today. The corruption investigation, being conducted by the Justice Department and the Securities and Exchange Commission, focuses on potential violations during the bank's efforts to raise money from Middle Eastern investors in the early days of the financial crisis. Barclays said yesterday that it is investigating the matter itself and cooperating with authorities.
