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Barclays bank fined GBP40 million over 2008 Qatari deal

( November 25, 2024, 09:12 GMT | Official Statement) -- MLex Summary: UK bank Barclays has been fined 40 million pounds (around $53 million) by the Financial Conduct Authority, for failing to disclose fees paid to the State of Qatar in return for a 1.4 billion-pound capital investment from the Qatar Investment Authority during the 2008 financial crisis. Steve Smart, the FCA's executive director of enforcement, said: "Barclays’ misconduct was serious and meant investors didn't have all the information they should've had.” The fine was cut from 50 million pounds, imposed in 2013. Smart described Barclays as a very different organization today, having implemented change across the business.Statement below, final notices attached. ...

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