- CMA's independent survey scores banks on quality of service
- VTB reaches agreement on the acquisition of Bank Vozrozhdenie
- House purchase activity slowed in June but remortgaging activity remains high, says UK Finance
- FCA makes it easier for customers to use and compare current accounts
- FreeAgent secures Open Banking registration from FCA
- New FCA rules double pressure on traditional banks to provide seamless service, says Intelenet
- Deutsche Bank Wealth Management steps up growth plans expired
- DevOps adoption will accelerate over the next two years in the financial services sector, finds Claranet expired
- NatWest and RBS launch 2018 Student Account expired
- Fundsquire hires new UK Managing Director expired
- Robo-advice will offer competitive advantage to traditional wealth managers, says GlobalData expired
- RBS launches the ‘100 Women’ event series expired
13th February 2018
Barclays faces second charge in Qatar capital raising case
The Serious Fraud Office has charged Barclays Bank plc with unlawful financial assistance contrary to s151(1) and (3) of the Companies Act 1985.
The charges relate to financial assistance Barclays Bank Plc gave to Qatar Holding LLC between 1st October and 30th November, 2008, which was in the form of a US$3bn loan for the purpose of directly or indirectly acquiring shares in Barclays plc.
This follows charges brought against the holding company, Barclays plc, and four individuals in June 2017. A date for the first court appearance will be set in due course.
The SFO announced the opening of its investigation in August 2012, when it charged Barclays plc and four individuals with conspiracy to commit fraud and the provision of unlawful financial assistance in June 2017.The strict liability rule in the Contempt of Court Act 1981 applies.