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Barclays locks horns with FCA on Qatari deals as £50m fine looms
by Sarah Miloudi on Sep 16, 2013 at 13:22
Barclays has admitted it could still face a £50 million fine over deals that helped it stay out of government hands during the credit crisis.
After revealing the details of its upcoming £5.8 billion rights issue, the bank confirmed a Sky News report that it was contesting the Financial Conduct Authority's verdict over £322 million in advisory fees paid to Qatari interests in 2008.
The City regulator filed the warning notices against Barclays last week, according to the report.
Shares in the bank held firm despite the news, and shortly before 2.50pm it was trading at 306.3p, up 1.54%.
According to its announcement earlier in the day, Barclays is to push ahead with its £5.8 billion rights issue plan, which it announced at its half-year results.
It will offer 3,219,067,868 new ordinary shares by way of rights to qualifying shareholders. Each share will be priced at 185p each.
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by Alex Steger on Dec 11, 2013 at 10:19