Update on FCA proceedings in relation to 2008 capital raisings
Barclays PLC (“Barclays”) announces that it has agreed with the Financial Conduct Authority (the “FCA”) to withdraw its references to the Upper Tribunal (the “Reference”) of the Decision Notices regarding Barclays and Barclays Bank PLC concerning the 2008 capital raisings, first published by the FCA on 23 September 2022 (the “Decision Notices”).
In view of the time elapsed since the events, Barclays wishes to draw a line under the issues referred to in the Decision Notices and has decided not to contest the Decision Notices further. Barclays does not accept the findings of the Decision Notices and this has been acknowledged by the FCA. Notwithstanding the difference of view, Barclays has concluded that the interests of the Bank, its shareholders and other stakeholders are best served by withdrawing the References.
A provision in respect of the financial penalty imposed by the FCA was taken in 2022 and there is no material financial impact on Barclays.
