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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-10-21T16:24:00
The U.K. Financial Conduct Authority (FCA) provisionally notified Barclays it intends to fine the bank 50 million pounds (U.S. $56 million) for failing to properly disclose financial arrangements made with Qatari investors in 2008.
The FCA said Friday in a press release the fine is provisional because it hinges on a decision by the Upper Tribunal, which will rule on whether the regulator’s proposed penalty should be upheld.
The FCA said Barclays raised capital funds in June and October 2008, during the worldwide financial crisis, in a manner that was “reckless and lacked integrity.” Barclays entered into two advisory agreements with Qatari entities that involved payments of £322 million (U.S. $363 million) over three and five years, respectively, part of a plan to raise up to £11.8 billion (U.S. $13.3 million) in funds, according to the regulator’s decision notice.
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2023-02-13T19:21:00Z By Neil Hodge
Barclays Bank is reportedly being investigated by the U.K. Financial Conduct Authority for failures regarding its anti-money laundering procedures and controls.
2022-09-29T21:44:00Z By Aaron Nicodemus
Barclays PLC and Barclays Bank agreed to pay $361 million to resolve allegations from the SEC the bank failed to implement internal controls to track the sale of $17.7 billion worth of unregistered securities transactions.
2020-02-28T17:52:00Z By Jaclyn Jaeger
The Serious Fraud Office suffered another major setback in the U.K.’s first trial against bank executives for misconduct during the 2008 financial crisis, after three former executives of Barclays were acquitted of fraud charges.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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