Barclays Faces $80M Fine In UK Over Qatari Investor Deals

Law360, New York (September 16, 2013, 10:30 PM EDT) -- The U.K. Financial Conduct Authority has threatened to fine Barclays PLC £50 million ($79.5 million) for allegedly failing to disclose payments to Qatari investors who helped the bank raise capital during the 2008 financial crisis, Barclays said Monday.

The FCA has concluded that Barclays “acted recklessly” in failing to disclose $513 million in payments to investment vehicle Qatar Holding LLC under two separate deals in June and October 2008, the bank said in a regulatory filing. Around the same time, Qatar Holding participated in capital-raising efforts...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.