Barclays Bank PLC, Jersey Branch

Final notice: inadequate management of money laundering risk for corporate banking customer Stunt & Co (Fowler Oldfield funds)

The FCA fined Barclays Bank PLC GBP 39,314,700 (reduced from GBP 56,163,900 for early settlement) for breaching Principle 2 by failing to manage money laundering risk in its corporate banking relationship with Stunt & Co, which received GBP 46.8 million from Fowler Oldfield in just over a year; the FCA 2025 fines page dates the breach period 2015 to 2021. A separate GBP 3,093,600 fine on the same day for the WealthTek client money account concerned Barclays Bank UK PLC, a different entity, and should not be attributed to Barclays Bank PLC.

Barclays Bank PLC was fined £39,314,700, reduced from £56,163,900 following early settlement.

Barclays continues a significant remediation programme to strengthen its anti-money laundering controls (FCA press release).

Final notice: reckless failure to disclose advisory agreement with Qatar Holding LLC in the October 2008 capital raising prospectuses

The FCA found that Barclays Bank plc breached Listing Rule 1.3.3R because its October 2008 capital raising prospectuses did not disclose a GBP 280 million advisory agreement with Qatar Holding LLC and the fees under it, and that the breach was committed recklessly; it imposed GBP 10 million on Barclays Bank plc and GBP 30 million on Barclays PLC (GBP 40 million in total, reduced from the GBP 50 million intended in the 2022 decision notices). Barclays denied wrongdoing and recklessness, referred the matter to the Upper Tribunal and withdrew the reference on 22 November 2024 following settlement discussions.

The Authority has therefore decided to impose a financial penalty of £10 million.

Final notice: oversight failings in the relationship with collapsed payments firm Premier FX

The FCA fined Barclays Bank Plc GBP 783,800 for failing to act with due skill, care and diligence as sole UK banker to Premier FX, whose actual business did not match what Barclays expected and whose internal controls were weak. Barclays agreed a voluntary payment of GBP 10,076,943.75 so that the 167 Premier FX customers with accepted claims recovered 100%.

The Financial Conduct Authority has fined Barclays Bank Plc (Barclays) £783,800

Voluntary payment of GBP 10,076,943.75 to Premier FX customers.

Final notice: unfair treatment of consumer credit customers in financial difficulty

The FCA fined the three Barclays entities GBP 26 million jointly for failing to treat consumer credit customers in financial difficulty fairly between April 2014 and December 2018 (30% discount from GBP 37,223,500). Barclays had paid over GBP 273 million in redress to at least 1,530,000 customer accounts since 2017. The penalty is joint; it cannot be attributed to Barclays Bank PLC alone, and the conduct was in retail and consumer credit, not private banking.

has fined Barclays Bank UK PLC, Barclays Bank PLC and Clydesdale Financial Services Limited (Barclays) £26 million

Redress programme of over GBP 273 million, close to completion at the date of the notice.

Final notice: poor handling of financial crime risks in a GBP 1.88 billion transaction for ultra-high net worth politically exposed clients

The FCA fined Barclays Bank PLC GBP 72,069,400 for failing to minimise the risk that it might be used to facilitate financial crime in a GBP 1.88 billion transaction arranged and executed in 2011 and 2012 for a number of ultra-high net worth clients who were politically exposed persons. The sum comprised disgorgement of GBP 52.3 million of revenue plus a GBP 19,769,400 penalty after a 30% stage 1 discount. This is the Barclays Bank PLC matter most directly relevant to private clients; the press release does not name the business unit.

The fine comprises disgorgement of £52.3 million, which is the amount of revenue

Final notice: failings in G10 spot FX trading business controls (Principle 3)

The FCA imposed a penalty of GBP 284,432,000 on Barclays Bank Plc for failing to control business practices in its FX business in London between 1 January 2008 and 15 October 2013. Barclays settled at stage two and received a 20% discount; without it the penalty would have been GBP 355,540,000. The FCA worked with the US CFTC, Federal Reserve Bank of New York, NYDFS and the US Department of Justice, which imposed their own penalties on the same day (amounts not stated on the FCA page); they are not included in this figure.

The Financial Conduct Authority (FCA) has imposed a financial penalty of £284,432,000 on Barclays Bank Plc (Barclays)

Final notice: failure to protect GBP 16.5 billion of safe custody assets (CASS)

The FCA fined Barclays Bank Plc GBP 37,745,000 for failing to properly protect clients' safe custody assets worth GBP 16.5 billion in its Investment Banking Division between November 2007 and January 2012. A 30% early settlement discount applied; without it the penalty would have been GBP 53,921,619. The failings were in the investment bank, not the private bank.

Barclays Bank Plc (Barclays) has today been fined £37,745,000 by the Financial Conduct Authority (FCA)

Final notice: conflicts of interest and systems and controls failings in the London Gold Fixing

The FCA fined Barclays Bank PLC GBP 26,033,500 for failing to manage conflicts of interest between itself and its customers and for systems and controls failings in relation to the London Gold Fixing between 2004 and 2013; a trader was separately fined and banned. Recorded from the FCA 2014 fines list.

Barclays Bank PLC | 23/05/2014 | £26,033,500 | Conflicts of interest and systems and controls failings in the London Gold Fixing