Sept. 23 (Bloomberg) — Barclays Plc agreed to pay $15 million to settle regulatory claims that its U.S. wealth-management business failed to maintain an adequate internal compliance system and made trades without client approval.

Barclays failed to enhance its compliance procedures after it bought Lehman Brothers Holdings Inc.'s advisory business in 2008, the U.S. Securities and Exchange Commission said in a statement today.

"Barclays failed to establish this critical compliance foundation when it acquired Lehman's advisory business, and as a result subjected its clients to a host of improper practices and inadequate disclosures." Julie Riewe, co-head of the asset management unit in the SEC's enforcement division, said in the statement.

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