UK authorities fined Macquarie Bank’s British unit £13 million after a London trader on the firm’s metals desk was able to book fictitious trades to conceal their losses https://t.co/7XmfK09lEf
UK financial watchdog fines Macquarie Bank £13mn for fictitious trades https://t.co/vRTlVn0xzD
UK watchdog fines Macquarie Bank $16 mln for serious control failures https://t.co/RDVN1Xluzt https://t.co/UUh5ZyE9uy
The UK Financial Conduct Authority (FCA) has fined Barclays £40 million ($51 million) for failing to disclose critical financial arrangements with Qatari entities during the 2008 financial crisis. The fine relates to Barclays' capital-raising efforts that helped the bank avoid a taxpayer bailout. The FCA described the bank's actions as 'reckless' and lacking in integrity, noting that investors were not provided with all necessary information about the deal, including fees paid to Qatari entities. Barclays had previously appealed the fine but recently dropped its challenge, agreeing to pay the penalty. The FCA had also previously fined Barclays £50 million for similar misconduct. This marks the latest development in a 16-year-old case regarding the bank's dealings with Qatar.
