FCA dings Barclays for £50m, bank refers fine to Upper Tribunal

clock • 3 min read

The UK's Financial Conduct Authority has fined Barclays £50m for disclosure failures linked to a capital raisings announced on 25 June 2008 and 31 October 2008 during the Global Financial Crisis, when the bank entered into arrangements with Qatari entities. The regulator said: "Barclays' conduct in the October capital raising was reckless and lacked integrity." Barclays has referred the FCA's Decision Notices on the affair to the Upper Tribunal, which is independent of the FCA. Its role is to hear references arising from Decision Notices or Supervisory Notices issued by the regulator....

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