FCA found bank should have disclosed more to shareholders about deal during financial crisis

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Barclays will pay a fine of £40m for “reckless” failures to disclose a fundraising deal with Qatar at the height of the financial crisis, after the British bank agreed to withdraw a legal challenge against it.

The bank effectively won a discount of £10m by challenging the fine, but was found to have committed serious misconduct by the regulator. Barclays withdrew an appeal shortly before it was due to be heard by the upper tribunal, a court in London.