Barclays faces 50 million pounds fine for "reckless" Qatar fundraising

Reuters

LONDON (Reuters) - Britain's financial watchdog said Barclays Plc (LSE:BARC) had "acted recklessly" over its failure to adequately disclose details of a 2008 fundraising with investors in Qatar and plans to fine the bank 50 million pounds ($79 million), Barclays said.

Barclays said the Financial Condust Authority (FCA) issued warning notices on the issue on September 13 that included the financial penalty. The bank said it continues to contest the findings.

The bank revealed the potential fine and failings in the risk disclosures section of a prospectus released on Monday for its planned 5.95 billion pound rights issue.

(Reporting by Steve Slater; Editing by Matt Scuffham)

Rates

View Comments (0)