Barclays Fined £40M ($51M) by UK Regulators Over 2008 Qatar Dealings

Nov 25, 2024, 08:29 AM

Barclays Plc has been fined £40 million ($51 million) by British regulators for failing to disclose details of its rescue by Qatari entities during the 2008 financial crisis. The Financial Conduct Authority (FCA) highlighted that Barclays' misconduct was serious, as it meant investors did not have all the necessary information. This fine is part of a broader regulatory scrutiny involving Barclays, including an investigation into the ties between Jeffrey Epstein and former Barclays CEO Jes Staley, which was initiated due to documents provided by JPMorgan Chase & Co.