Barclays Fined £40m for Failing to Disclose Qatari Fundraising Deals in 2008

The financial watchdog penalized the bank for 'reckless' conduct during the financial crisis, while Barclays disputes the findings but has withdrawn its appeal.

The Financial Conduct Authority (FCA) fined Barclays £40 million for failing to disclose £322 million in fees paid to Qatari investors during two fundraising rounds in 2008.
These fundraisings, totaling £11.8 billion, helped Barclays avoid a government bailout during the financial crisis, unlike rivals NatWest and Lloyds Banking Group.
The FCA described the bank's actions as 'reckless' and said they lacked transparency, depriving investors of critical information at the time.
Barclays initially contested the fine but dropped its appeal shortly before a court hearing, stating it wanted to 'draw a line' under the 16-year-old issue.
The fine was reduced from an initial £50 million proposed in 2022, and Barclays maintains it does not accept the FCA's findings despite agreeing to the settlement.