Barclays in Talks With SFO on Qatar-Probe Deal - Bloomberg

Barclays in Talks With SFO on Qatar-Probe Deal - Bloomberg:

Barclays Plc is in talks with the U.K. Serious Fraud Office over a possible deal to avoid new charges against one of its main operating units linked to a 12 billion-pound ($16.1 billion) fundraising at the height of the financial crisis, according to a person with knowledge of the situation.


The decision on whether the SFO will charge the unit, Barclays Bank Plc, in relation to the capital raising with Qatar is expected to be made by the end of January, two people with knowledge of the discussions said. The bank’s holding company and four former executives were charged with fraud and unlawful financial assistance in June with a trial scheduled for 2019.

When the charges were announced this year the bank said the SFO had not yet made a decision on whether it would also charge Barclays Bank. Any charges against the operating unit could be problematic because, if convicted, the lender’s ability to do business globally might be affected. Regulatory approvals and banking licenses are usually tied to banks’ operating units, through which products and services are provided."



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