Tweet
The Financial Conduct Authority (FCA) is warning Barclays Bank of a £50m fine for its 2008 investment deal with Qatari investors. The FCA said it had "acted recklessly" and breached some rules over disclosing some aspects of the deal and had failed to "act with integrity towards holders and potential holders" of its shares.
Barclays contests the findings.
The news emerged as Barclays gave details of its plan to raise £5.95bn through the issue of new shares. Shareholders are being offered one new share at 185p for every four they own. The new shares are expected to begin trading on 4 October.
Probes
The FCA accused the bank of agreeing £322m in secret payments to investors to gain their support for a previous share issuance, worth just over £5bn, taken up in 2008 by Qatar Holding, part of the state-owned investment authority of Qatar.....Read more here
previous AAD Blog page: Barclays faces SFO investigation
- 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.