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Thursday, 23 March 2017

City watchdog relaunches probe into Barclays’ cash call

City watchdog relaunches probe into Barclays’ cash call:

"The City watchdog has reignited its investigation into Barclays’ emergency cash call during the height of the financial crisis, opening up yet another line of inquiry that the UK bank must face as a consequence of the controversial deal. The Financial Conduct Authority has launched a series of interviews in recent weeks, according to people familiar with the situation. It is re-examining the fundraising of October 2008, when Barclays turned to Qatari and Abu Dhabi senior royals and sovereign wealth funds for a £7.3bn boost as a last-chance effort to stay out of UK government control. The interviews come despite the fact that the FCA already came to an early determination in 2013 that the bank had failed to disclose arrangements and fees it paid to Qatari investors at the time. The watchdog ‎said it would fine Barclays £50m, which the bank disclosed that year, adding that it would contest the findings."

'via Blog this'