The Financial Conduct Authority (FCA) has fined Barclays Bank £26m for failing to manage conflicts of interest in relation to fixing the price of gold.

Former Barclay’s trader, Daniel Plunkett, has been banned by the FCA for exploiting inefficiencies in the company’s systems to influence the process underpinning the gold fix.

According to the FCA, a U.S. customer owning a gold contract was set to receive a £2.3 million payment if the gold price was above $1,558.96 at the time of the fix. However, Plunkett placed orders that would increase the probability of gold price being below this level.

Plunkett has been given a life ban and fined £95,000. The offence occurred just one day after Barclay’s was fined £290 million by U.S. and UK regulators for their involvement in the Libor scandal.

Strangely Barclay’s shares rose 0.6% following the news.