Page 67 - Bank Case Studies

In 2012, the FCA had fined the bank £50m, which Barclays had

contested, for non-disclosure of the arrangements surrounding the

Qatari Deal but, had put it on hold whilst the SFO conducted its
investigation. This could now be re-instated

The fraud charges against the ex-directors, each carry maximum

prison sentences of 10 years, while the unlawful financial assistance
charge carries a possible two-year term.

Qatari Controversy Timeline

•Barclays raises £4.5bn from a range of investors including Qatar Holding, part of the state’s
sovereign wealth fund, the former Qatari prime minister’s vehicle Challenger Universal, as
June 2008 well as other investors such as Temasek of Singapore and China Development Bank.

•Lehman Brothers collapses into administration and Barclays buys the failed Wall Street
firm’s US business for $1.75bn.
Sept 2008

•Barclays drums up a further £7.3bn from Abu Dhabi’s Sheikh Mansour Bin Zayed Al Nahyan,
Qatar Holding, and Challenger, avoiding the taxpayer bailouts forced on RBS and Lloyds.
Oct 2008

•Barclays reveals the now-defunct Financial Services Authority (FSA) is investigating the
disclosure of fees it paid around the 2008 fundraises.
July 2012

•SFO launches probe into fees that Barclays paid to Qatar in 2008.
Aug 2012

•The Financial Conduct Authority (FCA), a successor to the FSA, warns Barclays it wants to
fine it £50m for breaching disclosure rules over the Qatar payments.
Sept 2012

•The Serious Fraud Office (SFO), brings criminal charges against Barclays and four individuals.
June 2017

Who are the four former Barclays executives?