Barclays challenges £50m fine for Qatar deal with reference to Upper Tribunal

The regulatory battle between Barclays and the FCA continues, with the bank appealing to the Upper Tribunal against the £50 million fine that the regulator plans to impose over payments to Qatari investors during the bank's 2008 capital-raising of £11 billion.

By Neasa MacErlean

The 14-year long Barclays controversy has taken several legal twists and turns. In 2013, the Financial Services Authority (predecessor to the Financial Conduct Authority) stalled its scrutiny because the Serious Fraud Office was also investigating. The latter subsequently brought criminal charges against the bank (which were dismissed by the court) and four former employees (all acquitted).