Investigators said to shift Barclays probe to Qatari dealings disclosure

Barclays Canary Wharf

A U.K. probe into Barclays Plc's dealings with Qatar’s sovereign-wealth fund during the financial crisis has shifted to look at whether transactions were properly disclosed, the Financial Times reported.

Bloomberg News reports that the Serious Fraud Office has moved away from looking for corruption in the bank’s push to get funding from the Qataris, the newspaper said, citing unidentified people with knowledge of the inquiry. Instead investigators are examining whether the firm or certain former directors breached general disclosure rules against false or misleading statements, the paper said.

The probe has centered on fees the London-based bank paid the Qatar Investment Authority while raising 7 billion pounds ($11.4 billion) in 2008 from investors, including the Qataris, to help the firm avoid a bailout during the financial crisis. The investigators, who haven’t made any decision on charges, have questioned former executives and directors and now are seeking information from additional members of the board who served during the fundraising, the Financial Times said.

Hit the link below to access the complete Bloomberg News article:

Barclays Probe of Qatar Deal Said to Turn to Disclosure, FT Says

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