Financial Conduct Authority (FCA) fines Barclays £40 million. Tom Broomfield of QEB Hollis Whiteman for the FCA.

The FCA has fined Barclays £40 million in total for its failure to disclose certain arrangements with Qatari entities in 2008.

Tom Broomfield was junior counsel for the Financial Conduct Authority, led by Paul Stanley KC (Essex Court Chambers) and leading Vincent Scully (6KBW College Hill). The FCA took enforcement action against Barclays for breaches of the listing rules and for acting without integrity by failing to disclose certain arrangements with Qatari entities in 2008. Tom was instructed in 2019. The FCA published decision notices against Barclays in October 2022. Barclays referred the case to the Upper Tribunal but withdrew the references on 25 November 2024, the first day of the hearing.

Please see press coverage below: 

• FCA Press Release
• Financial Times
• The Times
• The Guardian