LONDON (AP) — U.K. regulators fined Barclays Bank Plc, Britain’s second-biggest bank, a record 37.7 million pounds ($62 million) for failing to properly protect client assets.

The Financial Conduct Authority said Tuesday that the penalty was the largest ever for such violations and reflected significant weakness in the systems and controls at Barclays’ investment banking division between November 2007 and January 2012.

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