PACTS TARGETED
Britain’s financial watchdog reopens probe into Barclays’ fundraising
The bank’s 2008 emergency fundraising from Qatar is again under scrutiny after new documents emerge
London — The UK Financial Conduct Authority (FCA) had reopened its investigation into Barclays’s 2008 emergency fundraising from Qatar despite issuing a fine in the case four years ago as charging decisions from a parallel criminal case were set to be announced soon, a person familiar with the probe said. The FCA called in a number of people for interviews in the case in recent weeks, said the person who asked not to identified because the process is private. The UK regulator already fined Barclays £50m over the fund raising in 2013. The bank said it would contest the penalty but the challenge was put on hold pending the outcome of a criminal probe by the UK Serious Fraud Office (SFO). The investigations target two "advisory-services agreements" to the value of £322m Barclays committed to pay the Qatar Investment Authority during the 2008 financial crisis. The pacts came at about the same time the sovereign wealth fund joined a two-stage £12bn fundraising to help the bank avoid a st...
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