Search

Barclays Plc has filed a legal challenge against a decision made by the UK's ombudsman for consumers with financial complaints regarding motor finance practices. This challenge may potentially extend the Financial Conduct Authority's ongoing investigation into the matter. The FCA aims to complete the initial stages of its review by September, but Barclays' request for a Judicial Review could force an extension. The FCA has stated that it will consider any court decisions as it determines its next steps. The case in question involves a customer who took out a loan to purchase a used car and argued that she was subjected to unfair commission arrangements. [Extracted from the article]

Barclays Plc shares fell by 4.5% after Qatar's wealth fund, the Qatar Investment Authority (QIA), announced that it is selling almost half of its stake in the bank. This unexpected move comes as Barclays prepares for a strategic overhaul in early 2024. The QIA's sale of 361.7 million shares was expected to be priced at 141 pence per share, raising £510 million ($644 million). Barclays' shares have underperformed compared to its peers this year, and the bank's executives have been working on ways to improve returns, including potential job cuts. The QIA's stake in Barclays was acquired during the 2008 financial crisis, and this sale represents about 45% of its position. Barclays' strategy review, led by Chief Executive Officer C.S. Venkatakrishnan, is expected to unveil more ambitious financial targets in February 2024. The bank is considering various options, such as expanding its advisory business or acquiring a wealth manager. The QIA's intervention in 2008 helped Barclays avoid a government bailout, but it has since faced legal challenges related to the fundraising efforts. The Financial Conduct Authority plans to fine Barclays £50 million for failing to disclose advisory fees paid to Qatari investment vehicles during the fundraising, although the bank intends to challenge this proposal. [Extracted from the article]

The Financial Conduct Authority said Staley "recklessly misled" the company and regulators about his relationship with Epstein. [ABSTRACT FROM AUTHOR]

Barclays told the UK's Financial Conduct Authority that it "wants to extricate itself from Odey Asset Management", the Financial Times reported, citing people familiar with the situation it didn't identify. (Bloomberg) -- Barclays Plc is seeking to end its corporate banking relationship with Odey Asset Management after recent sexual assault allegations against the hedge fund's founder Crispin Odey, according to the Financial Times. [Extracted from the article]

Thirty-five percent of BNPL users in the U.K. said they signed up for a BNPL loan because they lacked any other available cash for purchases, and 10% said they opted for a BNPL loan because their other credit applications were rejected, Barclays' survey said. PAYMENTS February 14, 2022 Three buy now/pay later lenders that operate in the U.K. have refunded late-fee charges to consumers following a review by the country's Financial Conduct Authority, which is seeking to expand its jurisdiction over the fast-growing and unregulated domestic BNPL industry. [Extracted from the article]

An editorial is presented which addresses banking firm Barclays PLC's chief executive officer Jes Staley who has been fined for attempting to identify a whistleblower who accused Staley of covering up certain personal issues. The British Financial Conduct Authority's whistleblowing rules are examined, along with an effort to harmonise practices for corporate whistleblowers. A Libor interest rate-rigging scandal and the Swiss Leaks tax evasion investigation are assessed.

Barclays’ chief executive was fined for lack of care but not of integrity. This could lead to unfair two-tier approach [ABSTRACT FROM AUTHOR]

The article discusses Barclays has revealed an investigation into its chief executive officer (CEO) Jes Staley's attempts to out a company whistleblower, which has caused the Great Britain's Financial Conduct Authority and the Prudential Regulation Authority (PRA) to launch a regulatory probe. It mentions Staley had sought the whistleblower's identity to protect colleague Tim Main.

The article reports on the fine imposed by the Financial Conduct Authority in Great Britain against banking and financial services company Barclays for allegedly exposing customers to unnecessary risks, as of October 2014.

The Financial Conduct Authority fined Barclays £26 million and its former gold trader Daniel Plunkett £95,600 after it said Plunkett had sought to influence June 28 2012's gold fix. [ABSTRACT FROM AUTHOR]

The article offers information on the issue of data theft in the financial services provider Barclays PLC. Topics discussed were selling of the Barclays customer data to rogue operators, investigation on the issue by Barclays, British Financial Conduct Authority and Information Commission, as per the mail which reported about the issue, and customers data were the information about psychometric tests, which show the recipients' attitudes to risk, making their data more valuable.

The article focuses on Jes Staley, chief executive of banking company Barclays PLC as of May 2018, who attempted to discover the identity of a whistleblower who was writing to the bank's board with allegations about a former J.P. Morgan Chase & Co. colleague that the company hired. It states that the Financial Conduct Authority of Great Britain has issued draft warning notices to Staley and the bank after it discovered his attempts.

The article reveals that Barclays has topped the list of the most complained about British financial institutions in the second half of 2012, according to the Financial Conduct Authority (FCA).

The article comments on the disparity in the number of times the British Financial Conduct Authority (FCA) visited offices of banking companies Barclays, HSBC, Royal Bank of Scotland and Lloyds.

The article reports on the appointment of law firms Clifford Chance LLP and Sullivan & Cromwell LLP as legal advisers to British financial services firm Barclays PLC that faced allegations on foreign exchange manipulation. Barclays was ordered to pay penalty fines to the New York State Department of Financial Services, U.S. Commodity Futures Trading Commission and Great Britain's Financial Conduct Authority for a total of $2.3 billion.

The article reports on the decision of Mishcon de Reya, an international law firm, to bring a judicial review against accountancy firm KPMG International Cooperative for its client nursing home operator Holmcroft Properties. The issue came out after KPMG was appointed by financial services company Barclays PLC to oversee the compensation process in relation to its mis-selling of interest rate swap products. Mishcon also issued a complaint letter to the Financial Conduct Authority (FCA).

The article offers several insights on the policies of the British Financial Conduct Authority (FCA) on foreign exchange fines. It mentions the investigation conducted by the FCA on foreign exchange traders specifically with banks and financial regulators. It offers the insights of Clifford Chance LLP, a advisory firm for Barclays, on the way its client manages with the investigation conducted by FCA.

The article focuses on a statement issued by the British Financial Conduct Authority, according to which a group of 13 banks and credit-card issuers including Barclays PLC, HSBC Holdings PLC and Lloyds Banking Group PLC will provide 1.3 billion pounds in order to compensate customers and cover credit card and identity theft as of 2013. It also mentions that the insurance firm CPP Group PLC overstated the consequences of identity theft and failed to inform about card-protection product.