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FCA relaunches Barclays probe over financial crisis fundraising


The FCA is reopening an investigation into Barclays related to fundraising during the height of the financial crisis.

The reopening of the probe could prompt the FCA, which has been conducting interviews over the last few weeks, to change the amount of the current £50m fine, the Financial Times reports.

The investigation is connected to an emergency cash call, in which the bank sought a £7.3bn boost from Qatari and Abu Dhabi senior royals and sovereign wealth funds in a last ditch effort to escape Government control.

In 2013 the regulator determined that the bank had failed to disclose arrangements and fees it paid to Qatari investors during the fundraising.

The FCA halted its initial probe after the Serious Fraud Office launched an investigation, which included interviews with former chief executives John Varley and Bob Diamond.

That has resulted in the release of 100,000 pieces of documentary evidence by Barclays to the SFO, which is due to conclude its investigation this month.


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FCA appoints Wesleyan boss to chair small business panel

Wesleyan group chief executive Craig Errington has replaced Citywide Financial Partners managing director Clinton Askew as chairman of the FCA’s Smaller Business Practitioner Panel. Askew has held the role since April 2015 after joining the group in 2009. The panel is one of four statutory advisory bodies to the regulator and represents the interests of […]

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FCA admits ‘overwhelming’ small firms with information

The FCA wants to make its communications to small firms more focused after admitting it had been ‘overwhelming’ these companies with information. The regulator says it is weighing up options after its Smaller Business Practitioner Panel, an advisory group to the FCA, said the amount of information small firms were receiving from the FCA “was […]


Mortgage broker drops FCA tribunal due to ill health

A mortgage broker has abandoned a tribunal case that protested the Financial Conduct Authority cancelling his permissions, citing ill health. The FCA cancelled Michael Wilkinson’s permissions to carry out regulated activities in May 2016 for providing inaccurate information about his capital in his RMAR returns. Wilkinson was a sole trader at Huddersfield-based Michael Wilkinson Mortgages. He had […]


White paper — Dubai International Insights

Jelf Employee Benefits discusses the legislative changes in Dubai, available medical facilities and policy considerations for employers with expatriate workforces in the country. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Dubai, or are considering operating there in the near future.


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