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Barclays fined £40m over ‘reckless’ 2008 Qatar fundraising

The sun shines on the Barclay's logo outside a branch of the bank Barclay's on October 18, 2023 in Bristol, England.
Photo: Matt Cardy/Getty Images

Mark Taylor of Ibex Compliance identifies the key learning points from the FCA’s action against Barclays Bank.

The FCA has fined Barclays £40m ($50.4m) for its failure to disclose certain arrangements with Qatari entities during a 2008 capital raising. The FCA found that Barclays’ conduct was “reckless and lacked integrity.”

The fine comes after Barclays dropped a legal challenge to the Upper Tribunal and withdrew its References against

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