A retaining clip configured to secure an elongate member to a generally planar panel is described herein. The retaining clip includes a first side wall, a second side wall opposite the first side wall, and an end wall interconnecting the side walls. The side walls define a gap configured to receive the panel. The retaining clip includes further includes a resilient first cantilevered prong projecting into the gap from the first side wall and a resilient second cantilevered prong projecting from into the first gap from the second side wall. Free ends of the first and second prongs are characterized as having a pair of pointed barbs on distal edges of the first and second prongs. The pointed barbs are configured to increase a removal force required to remove the panel from the first gap. A method of forming such a retaining clip is also described.