Barclays Faces another Fine from FCA
The Financial Conduct Authority (FCA) is suspecting if Barclays should have unveiled additional details to the stock market regarding the capital-raisings of £11.8bn back to five years from private investors.
It has been found that Barclays and the FCA are currently negotiating over a fine imposed on the Bank for the deals made during the financial crisis i. e. in 2008.
Billions of pounds had, reportedly, been raised by Barclays from Qatari as well as other sovereign investors. The same had allowed it to circumvent a bailout from the government.
Barclays has been seeking to resolve the enforcement action before a preliminary prospectus publication for its rights issue of £5.8bn. The same is likely to be used alongside a new bond issue in the upcoming days, strengthening its balance sheet.
It is being said that the deal might not end between the regulator and the bank before the availability of the prospectus for the rights issue.
Investigation is being conducted by the UK bodies to find out if the bank had bought shares by lending money to the Qataris.
The report said that the US Department of Justice and the Securities and Exchange Commission, the Serious Fraud Office and the FCA have analyzed the situations encasing the deal.
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