-
Barclays in new FSA investigation
Barclays has revealed that it is under investigation by the financial watchdog over the disclosure of fees payable under unspecified deals made in 2008. The news came as the bank's adjusted pre-tax profit for the first six months of 2012 rose 13% to £4.2bn. It also set aside £450m to cover potential compensation to small businesses sold inappropriate financial products, its results statement said. It comes weeks after Barclays admitted involvement in a rate-rigging scandal. Inquiry The Financial Services Authority (FSA) is now investigating both the bank and four current and former senior employees, including finance director Chris Lucas. "The FSA is investigating the sufficiency of disclosure in relation to fees payable under certain commercial agreements and whether these may have related to Barclays capital raisings in June and November 2008," Barclays said.....Read more hereYou must be logged in to post a comment.
- Hi & Welcome to the AAD Consumer Forum
We're a FREE consumer debt and legal forum offering help, support and debate in many areas of day-to-day life. You will need to Register a Free Account before you can join in with the discussion and contribute with your own posts. Remember to also check out the FAQ's so you can get to grips with how the forum works ready to start posting your new topics. Read about the new GDPR 2018 Rules and how it affects you as a member of AAD.
Tweet
Italian police have taken documents from a Barclays office in Milan as part of a probe into possible Euribor rate manipulation, according to Reuters. It said the raid occurred as regulators investigated fixing fears of the eurozone equivalent of the scandal-hit, London-based Libor inter-bank lending rate. The search was ordered by prosecutors in the southern city of Trani, who have opened a criminal probe into the possible manipulation of the Euribor rate. The move comes after complaints were filed by two consumer groups, Adusbef and Federconsumatori.
Two judicial sources also confirmed the raid occurred last week, according to Reuters. Documents, computer material and emails were seized, the consumer groups said in a joint statement. They said the Milan raid occurred "with the aim of looking for evidence that Barclays also manipulated Euribor, as it did with Libor, with a negative impact on mortgage rates paid by Italians".....Read more here: Italian Police Raid Barclays Over Rate-Fixing
Barclays has failed in an attempt to delay a legal claim over allegations it mis-sold an interest rate swap to a care home operator. Barclays is facing its first court battle over Libor-rigging allegations after losing an attempt to have a case delayed over claims it mis-sold an interest rate hedge to a business customer. Judge Simon Brown QC yesterday rejected Barclays’ move to have a mis-selling claim brought by care home operator Guardian Care Homes pushed back and ordered the bank to file a defence by the end of next week.....Read more HERE