UPDATE 3-Barclays called reckless over $511 mln payments to Qatar investors | Reuters:
"* UK regulator plans to fine bank 50 mln stg for disclosure failings
* Barclays says it will fight FCA's Qatar deal findings
* Barclays income down 500 mln stg July-Aug on weak investment bank
By Steve Slater
LONDON, Sept 16 (Reuters) - Barclays has been branded reckless by a British watchdog for failing to disclose payments of 322 million pounds ($511 million) in advisory fees to Qatari investors who helped bail it out during the financial crisis.
In its prospectus for a 5.95 billion pound ($9.4 billion) share issue, the British bank said the Financial Conduct Authority (FCA) planned to fine it 50 million pounds for its failure to adequately disclose the fees that have been paid over the last five years.
The payments were made under "advisory service agreements" linked to Barclays' emergency fundraising with Qatari investors, which helped the bank avoid taking a taxpayer bailout in 2008."
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