The Financial Conduct Authority (FCA) has termed its dealing as "reckless" and said that the fees was not to obtain advisory services but to make additional payments, as reported by the Telegraph
Qatar invested £4.6bn and a further £7bn in the bank, in June and November 2008, respectively, which helped the lender to avoid UK government’s bailout.
The UK Serious Fraud Office, the US Department of Justice, and the US Securities and Exchange Commission (SEC) are still probing whether Barclays persuaded Qatar for the capital to rescue the bank.
Previously, the FCA threatened to £50m fine for violating certain disclosure-related rules over the advisory services agreement with Qatar.
Opposing the penalty, the bank said that the advisory fees needs not to be disclosed under the FCA rules and regulations.
Most recently, the bank agreed with the US regulators to pay a fine of nearly $36.1m to settle the charges for its involvement in financing, purchasing, and securitizing residential loans that were possibly unfair.
