barclays faces new probe into qatar loans reports

Added 1st February 2013

Authorities in the UK are probing allegations that Barclays Bank made a loan to the Qatar Investment Authority for it to invest in the bank at the height of the 2008 financial crisis in order to avoid a government bailout, according to a report in the Financial Times.

barclays faces new probe into qatar loans reports

In a story published this morning, the FT said two sources “familiar with the situation” independently informed it of the investigation into the alleged loan.

As previously reported, it is already known that Barclays is under investigation by the Serious Fraud Office and Financial Services Authority over fees it paid to the QIA in 2008 were adequately reported. These latest revelations however were not previously known.

According to the FT, if true, such an arrangement could contravene market regulations. The newspaper quotes Peter Hahn, a former banker at Citi now at Cass Business School as saying: “The concept of lending money to any investor to purchase your own shares raises a series of immediate questions about disclosure and other regulatory issues.”
 

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

About Author

International Adviser is aimed at global intermediaries who advise their HNW clients on International fund, life and banking products and tax efficient solutions to their cross-border needs

Features

The pain and gain of OMW's acquisition of AAM Advisory

The pain and gain of OMW's acquisition of AAM...

Old Mutual Wealth’s shock decision in February to buy AAM Advisory, the largest expat-focused IFA firm in Singapore, has in some ways felt like “having a tooth removed”, according to chief executive Matthew...

Analysis

Profiles

Directories

Utmost Wealth Solutions
Utmost Wealth Solutions

ADDRESS Royalty House, Walpole Avenue, Douglas,...

Tweets

Events

IA International Portfolio Bond Forum 2017
IA International Retirement Planning Forum Dubai 2017
IA International Retirement Planning Forum Dubai 2017

Thursday 15 March,
Shangri-La Hotel, Dubai

Sponsored Content

Investment Strategy

OTHER STORIES FROM LAST WORD...