Barclays fined £40m over 2008 capital raising conduct

FCA previously sought to impose £50m fine

Jen Frost
clock • 2 min read

The Financial Conduct Authority has fined Barclays £40m after finding the business’ conduct around an October 2008 capital raising was “reckless and lacked integrity”.

Barclays failed to disclose certain arrangements with Qatari entities in 2008, the FCA set out in an update today (25 November). The regulator first issued warning notices against Barclays in 2013, with the case paused amid since dismissed proceedings brought by the Serious Fraud Office (SFO). The FCA's decision notices were published in 2022, with Barclays having now chosen to withdraw an Upper Tribunal referral relating to the notices. The FCA had previously sought to impose a £50m fine on Barclays. FCA admits there could have been better handling of name and shame proposals ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Sinking Pennon Group takes top spot as most shorted UK stock in Q1

Sinking Pennon Group takes top spot as most shorted UK stock in Q1

Kingfisher in second place

Eve Maddock-Jones
clock 02 April 2025 • 4 min read
Raspberry Pi's profits fall over 50% after 'transformative year' for the company

Raspberry Pi's profits fall over 50% after 'transformative year' for the company

Following June 2024 IPO

Linus Uhlig
clock 02 April 2025 • 2 min read
Kleinwort Hambros becomes UBP's UK arm following takeover

Kleinwort Hambros becomes UBP's UK arm following takeover

All London teams to move into Marylebone

Sorin Dojan
clock 01 April 2025 • 1 min read
Trustpilot