Barclays Capital, the investment banking arm of Barclays, has been fined £2.45m for inaccurately reporting 57.5m transactions to the City regulator, the largest fine of its kind.

The Financial Services Authority said on Tuesday Barclays had either failed to report trades or reported inaccurate data – such as trade time – for 85 per cent of equities trades and 100 per cent of other trades including foreign exchange and commodities.