The City watchdog could fine Barclays up to £50m for failing to disclose a deal struck with Qatar at the height of the financial crisis, reviving a controversial episode that failed to gain traction in UK courts.
The provisional fine – which Barclays is in the process of appealing against – relates to the £322m the bank paid to Qatar in 2008, allegedly in exchange for the gas-rich Gulf state investing £4bn, helping save the lender from a UK government bailout.
