Banking giant Barclays has been hit with a £50 million fine from the UK’s financial watchdog over failures to disclose arrangements with Qatari investors when it raised funds during the 2008 financial crash.
The Financial Conduct Authority (FCA) said Barclays’ conduct at the time was “reckless and lacked integrity”.
Barclays has taken the decision to the Upper Tribunal – an independent tribunal that hears appeals – which will consider the findings and determine whether the fine should be upheld.
