Barclays

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Barclays plc ( ) is a multinational investment bank and a UK-based financial services company headquartered in London. It operates in over 40 countries and employs about 120,000 people. Apart from investment banking, Barclays is organized into four core businesses: personal banking, corporate banking, wealth management, and investment management.

Barclays traced its origins to the gold banking business founded in the City of London in 1690. James Barclay became a partner in the business in 1736. In 1896, several banks in London and the British provinces, including Backhouse's Bank and Gurney's Bank, united as a stock bank combined with the name Barclays and Co. Over the next few decades Barclays evolved into a national bank. In 1967, Barclays deployed the first cash dispenser in the world. Barclays has made many acquisitions of the company, including London, the Province and the South Western Bank in 1918, the British Linen Bank in 1919, Mercantile Credit in 1975, Woolwich in 2000 and the North American operations of Lehman Brothers in 2008.

Barclays has a major list on the London Stock Exchange and is a constituency of the FTSE 100 Index. It has a secondary listing on the New York Stock Exchange. Qatar Holdings, Qatar's state investment vehicle, is the company's largest shareholder.

According to a 2011 paper by Vitali et al., Barclays is the most powerful transnational corporation in terms of ownership and thus controls the company over global financial stability and market competition with AXA and State Street Corporation taking positions 2 and 3, respectively.

Video Barclays

Histori

1690 hingga 1900

Barclays traces its origins back to 1690 when John Freame, a Quaker, and Thomas Gould began trading as a gold banker on Lombard Street, London. The name "Barclays" became business-related in 1736, when Freame's son-in-law James Barclay became a partner. In 1728 the bank moved to 54 Lombard Street, identified by the 'Signs of the Black Distribution Eagle', which in the following years will be a core part of the bank's visual identity.

The Barclays are connected with slavery, both as supporters and opponents. David Barclay and David were involved in the slave trade in 1756. David Barclay of Youngsbury (1729-1809), on the other hand, was a prominent abolisionist, and Verene Shepherd, the historian of the diaspora study Jamaica, ruled out the case of how he chose to free his slave in the colony.

In 1776 the company was laid out "Barclay, Bevan and Bening" and remained so until 1785, when another partner, John Tritton, who married Barclay, was accepted, and business became "Barclay, Bevan, Bening and Tritton". In 1896 several banks in London and the British provinces, especially the Backhouse Bank Darlington and Gurney's Bank of Norwich (both also rooted in the Quaker family), united under the banner of Barclays and Co., a joint-stock bank.

1900 to 1945

Between 1905 and 1916 Barclays expanded its branch network by acquiring small UK banks. Further expansion followed in 1918 when Barclays joined London, the Province and the South Western Bank and in 1919 when the British Linen Bank was acquired by Barclays Bank, although the British Linen Bank maintained a separate board of directors and continued to issue its own bank records. (see Money Pound Sterling).

In 1925, the Colonial Bank, the National Bank of South Africa and the Anglo-Egyptian Bank were merged and Barclays operated its overseas operations under the name Barclays Bank (Dominion, Colonial and Overseas) - Barclays DCO. In 1938 Barclays acquired the first Indian exchange bank, the Central Bank of India, which opened in London in 1936 with the sponsor of the Central Bank of India.

1946 to 1980

In May 1958, Barclays was the first UK bank to appoint a female bank manager. Hilda Harding manages the Barclays Hanover Square branch in London until retirement in 1970.

In 1965, Barclays established a US affiliate, Barclays Bank of California in San Francisco.

Barclays launched its first credit card in England, Barclaycard, in 1966. On June 27, 1967, Barclays deployed the world's first money machine, at Enfield. British actor Reg Varney was the first to use the machine.

In 1969, the planned merger with Martins Bank and Lloyds Bank was blocked by the Monopoly and Merger Commission, but Martins Bank's own acquisition was subsequently allowed. Also in that year, a subsidiary of British Linen Bank was sold to the Bank of Scotland in exchange for a 25% stake, a transaction valid since 1971. Barclays DCO changed its name to Barclays Bank International in 1971.

In August 1975, after a secondary banking accident, Barclays acquired the Mercantile Credit Company.

1980 to 2000

In 1980, Barclays Bank International expanded its business to include commercial credit and took over the American Credit Corporation, renaming it to Barclays American Corporation.

The following year Barclays Bank and Barclays Bank International merged, and as part of the reorganization of the company, former Barclays Bank plc became the parent company of the group, renamed Barclays plc, and the UK integrated retail banking under former BBI, and renamed Barclays Bank PLC from Barclays Bank Limited .

In 1986 Barclays sold its South African business operating under the Barclays National Bank name after protesting Barclays' involvement in South Africa and its apartheid government. Also that year Barclays bought de Zoete & amp; Bevan and Wedd Durlacher (formerly Wedd Jefferson) formed Barclays de Zoete Wedd (BZW), now known as Barclays Investment Bank, and utilize the Big Bang on the London Stock Exchange.

Barclays introduced the card Connect in June 1987, the first debit card in the United Kingdom.

In 1988, Barclays sold Barclays Bank of California, which at that time was the 17th largest bank in California measured by assets, to Wells Fargo for US $ 125 million in cash.

Edgar Pearce, "Mardi Gra Bomber", started a terror campaign against Sainsbury's bank and supermarket chain in 1994.

In 1996, Barclays purchased Wells Fargo Nikko Investment Advisor (WFNIA) and merged it with BZW's Investment Management to form Barclays Global Investors.

Two years later, in 1998, the BZW business was broken up and its parts sold to Credit Suisse First Boston: Barclays maintained a debt business that formed the basis of what is now called Barclays Capital.

In 1999, in an unusual move as part of the trend at the time for free ISPs, Barclays launched an internet service called Barclays.net: the entity was acquired by British Telecom in 2001.

In August 2000, Barclays took over the recently-mutated Woolwich PLC, previously the Woolwich Building Society, in a $ 5.4 billion acquisition. Woolwich PLC then merged with the Barclays group of companies, and the Woolwich name was retained after the acquisition. The company's headquarters remains in Bexleyheath, south-east London, four miles from the original headquarters in Woolwich.

21st century

In 2001 Barclays closed 171 branches in the UK, many of them in rural communities: Barclays called itself the "BIG BANK" but the name was quickly given a low profile after a series of embarrassing PR actions.

On 31 October 2001, Barclays and CIBC agreed to merge their Caribbean operations to establish a joint venture known as FirstCaribbean International Bank (FCIB).

In 2003, Barclays purchased American credit card company, Juniper Bank from CIBC, marking it back as "Barclays Bank Delaware". The same year saw the acquisition of Banco Zaragozano, Spain's 11th largest bank.

Barclays took over the Premier League sponsorship from Barclaycard in 2004. In May 2005, Barclays moved its group headquarters from Lombard Street in the City of London to One Churchill Place in Canary Wharf. Also in 2005 Barclays sealed a 2.4bn acquisition of Absa Group Limited, South Africa's largest retail bank, acquired 54% of shares on July 27, 2005.

Then in 2006, Barclays purchased HomEq Servicing Corporation for US $ 469 million in cash from Wachovia Corp. The year also saw the acquisition of financial sites CompareTheLoan and Barclays announced plans to convert Woolwich branches as Barclays, migrate Woolwich customers to Barclays accounts and move back-office processes into Barclays systems - the Woolwich brand will be used for Barclays mortgages. Barclays also exited retail banking operations in the Caribbean region that extended by 1837 through the sale of its joint venture company FirstCaribbean International Bank (FCIB) to CIBC between $ 989 million and $ 1.08 billion.

In January 2007, Barclays announced that it had purchased the naming rights to Barclays Center, a proposed 18,000-place arena in Brooklyn, New York, where the New Jersey Nets were planning to relocate.

Merger merger with ABN AMRO

In March 2007, Barclays announced plans to join ABN AMRO, the largest bank in the Netherlands. However, on 5 October 2007 Barclays announced that it had abandoned its offer, citing inadequate support from ABN shareholders. Less than 80% of the shares have been offered for Barclays's cash and stock offer. This left a consortium led by Royal Bank of Scotland free to proceed with a $ 99.9 cent counter-bid for ABN AMRO.

To help finance its bid for ABN AMRO, Barclays sold 3.1% stake to China Development Bank and a 3% stake to Temasek Holdings, the Singapore government's investment arm.

Also in 2007, Barclays agreed to purchase Equifirst Corporation from Regions Financial Corporation for US $ 225 million. The year also saw Private Investment Management Barclays announced the closure of its operations in Peterborough and its location determination to Glasgow, which laid off nearly 900 staff members.

Financing

On August 30, 2007, Barclays was forced to borrow Ãƒ, Ã‚ Â£ 1.6 billion (US $ 3.2 billion) from the Bank of England standby sterling facility. This is provided as a last resort when the bank can not repay its debt to another bank at the end of daily trading. Despite rumors of liquidity in Barclays, the loan was needed because of technical problems with their computerized settlement network. A Barclays spokesman was quoted as saying "There is no liquidity problem in the US market.Barclays themselves flushed with liquidity."

On Nov. 9, 2007, Barclays shares were down 9% and even temporarily suspended for a short time, due to rumors of Â£ 4.8 billion (US $ 10 billion) worth of exposure to bad loans in the US. However, a Barclays spokesman denied the rumor.

Barclays attempted to raise capital privately, avoiding direct equity investments from the UK government, offered to increase its capital ratio. Barclays believes that "maintaining its independence from the government is in the interest of its shareholders".

In July 2008, Barclays sought to accumulate 4.5 billion pounds through the issuance of non-traditional rights to shore up the weakening Tier 1 capital ratio, which involves offering rights to existing shareholders and selling shares to Sumitomo Mitsui Banking Corporation. Only 19% of shareholders took their right to leave investors China Development Bank and Qatar Investment Authority with increased ownership in the bank.

Barclays launched a further round of capital increase, approved by a special resolution on November 24, 2008, as part of the overall plan to achieve higher capital targets set by OJK to ensure it will remain independent. Barclays collected Ãƒ, Ã‚ Â£ 7 billion from investors from Abu Dhabi and Qatar. Existing Barclays shareholders complain that they are not offered full pre-emption rights in this capital raising round, even threatening to rebel at extraordinary meetings. Sheikh Mansour and Qatar Holding agreed to open Ãƒ, Ã‚ Â£ 500 million from their new holdings of reserve capital instruments for the clawback. The current investor takes this.

In 2008, Barclays purchased a $ 70 million Goldfish credit card brand that earned 1.7 million subscribers, and US $ 3.9 billion of receivables. Barclays also purchased a controlling stake in the Russian retail bank Expobank for US $ 745 million. Later in the year Barclays began operations in Pakistan with initial funding of US $ 100 million.

acquisition of Lehman Brothers

On September 16, 2008, Barclays announced its purchase agreement, depending on regulatory approvals, Lehman Brothers' investment-banking and trading division (including the New York skyline) which is a US financial conglomerate that has filed for bankruptcy.

On September 20, 2008, a revised version of the deal, a plan worth US $ 1.35 billion (Ã‚ Â£ 700 million) for Barclays plc to acquire Lehman Brothers core business (notably Lehman US $ 960 million skyscraper Midtown Manhattan office, with responsibility for 9,000 former employees), has been approved. After a seven-hour trial, the New York court bankruptcy Judge James Peck decided: "I have to approve this transaction because this is the only transaction available." Lehman Brothers became the victim, who is the only true icon to fall in a tsunami that has an override credit market This is the most important bankruptcy hearing I've ever had, it can never be considered a precedent for future cases, it's hard for me to imagine a similar emergency. "

Luc Despins, an adviser to the creditor committee, said: "The reason we do not mind is really based on a lack of viable alternatives.We do not support transactions because there is not enough time to review them properly." Under the amended agreement, Barclays will absorb US $ 47.4 billion in securities and assume US $ 45.5 billion in trading obligations. Lehman's lawyer Harvey R. Miller from Weil, Gotshal & amp; Manges, said "the purchase price for the real estate component of the deal will be $ 1.29 billion, including $ 960 million for Lehman New York's headquarters and $ 330 million for two New Jersey districts." Lehman's preliminary estimate appreciates its headquarters US $ 1.02 billion but valuation of CB Richard Ellis this week worth US $ 900 million. "Furthermore, Barclays will not acquire Lehman Eagle Energy unit but will have an entity known as Lehman Brothers Canada Inc., Lehman Brothers Sudamerica, Lehman Brothers Uruguay and Private Investment Management business for high-value individuals. Finally, Lehman will retain US $ 20 billion of securities assets at Lehman Brothers Inc. that are not transferred to Barclays. Barclays has a potential liability of US $ 2.5 billion to be paid as a severance, if he chooses not to keep some of Lehman's employees out of the 90-day guarantee.

In September 2014, Barclays was ordered to pay $ 15 million in settlement fees that the bank alleged had failed to maintain an adequate internal compliance system after the Lehman Brothers acquisition during the 2008 financial crisis.

2009 to present

Reuters later reported that the British government would inject Ãƒ, Ã‚ Â£ 40 billion (US $ 69 billion) into three banks including Barclays, which may be seeking more than Ãƒ, Ã‚ Â£ 7 billion. Barclays later reiterated that he rejected the Government's offer and would instead raise Ãƒ, Ã‚ Â£ 6.5Ãƒ, a new capital billion (Ãƒ, Ã‚ Â£ 2 billion with dividend cancellation and Ãƒ, Ã‚ Â£ 4.5bn from private investors).

Barclays shares fell 54% in June 2009 after the International Petroleum Investment Company (IPIC), which had invested up to Ãƒ, Â£ 4.75 billion in November 2008, sold 1.3 billion shares of Barclays. Qatar Holding sold a 3.5% stake worth Ã‚ Â£ 10 billion in October 2009, and a further sale of warrants worth around Ãƒ, Ã‚ Â£ 750 million in November 2012, but remains one of the largest shareholders of the bank. In July 2012, Barclays revealed that OJK is investigating whether banks adequately disclose fees paid to the Qatar Investment Authority. In August 2012, the Serious Fraud Office announced an investigation into the increase of Middle East capital. The Financial Services Authority announced the extension of the investigation into the Barclays-Qatar deal in January 2013, focusing on disclosure of bank ownership of securities.

In January 2009, the press reported that further capital may be necessary and that while the government may be willing to finance this it may not be able to do so because the previous capital investments from the country of Qatar are subject to the provision that no third party may enter further money without Qatar receiving compensation with the value of the shares that had been ordered in October 2008. In March 2009, it was reported that in 2008, Barclays received billions of dollars from its insurance arrangements with AIG, including US $ 8.5 billion from funds provided by the United States to save AIG.

On June 12, 2009, Barclays sold its Global Investors unit, which includes its trade exchange business iShares, to BlackRock for US $ 13.5 billion. Standard Life sold Standard Life Bank plc to Barclays plc in October 2009. The sale was completed on January 1, 2010. On November 11, 2009, Barclays and First Data, a global provider of information trading technology, signed an agreement in accordance with Barclays will migrate various portfolios card to First Data publishing and consumer financing platform. On February 13, 2010, Barclays announced it would pay over Ãƒ, Ã‚ Â£ 2 billion bonus. In March 2011 it was reported that Barclays had beaten Santander UK to claim the top spot as Britain's most feared bank, with the country's official banking regulator, the Financial Services Authority had recorded 276,315 new customer complaints against Barclays Bank during the second half of 2010 Barclays remained only occupies the third position in the UK among major clearing banks in terms of number of branches. In line with cost cuts, Barclays cut 1,400 jobs during the first half of 2011 and cut 1,600 other jobs for the rest of 2011.

In March 2012, the trade names Barclays Capital, Barclays Wealth, and Barclays Corporate were changed to "Barclays" as part of an effort to simplify the company's operations and to promote greater integration among its divisions.

In June 2012 Barclaycard acquired Analog Analog, digital coupons, and daily transaction business similar to Groupon.

In October 2012, Barclays announced it has agreed to purchase ING Direct UK business from ING Group. The transfer of business to Barclays has been approved in Court of Appeal on February 20, 2013 and ING Direct is renamed Barclays Direct and will be integrated into the existing Barclays business within two years.

In February 2013, Barclays announced a net loss of Ãƒ, Ã‚ Â£ 1.04 billion for 2012, its first annual loss in two decades, along with plans to cut 3,700 jobs, reduce annual costs by Ãƒ, Ã‚ Â£ 1.7 billion, and reduce its retail banking activities in Europe and Asia.

In May 2014, Barclays announced it would cut 19,000 jobs over 3 years with 12,000 job cuts by 2014. Investment banking will cut 2,000 jobs by 2014 and up to 7,000 jobs in total by 2016 to shrink the share of investment banking from 50 percent in the year 2014 to 30 percent of Barclay's assets in 2016.

Barclays announced in June 2015 that it will sell its wealth and business investment management to Stifel for an undisclosed fee.

Barclays sells its Retail Banking unit in Spain to Caixabank in 2014. At its peak, Barclays has 5,100 employees and 600 offices in Spain. In 2014 the bank has 2,800 employees and 270 offices. With sales, Caixabank acquired approximately 550,000 new retail and private banking clients and 2,400 employees.

In August 2015 it was announced that Barclays would become the first street bank in the United Kingdom to start receiving bitcoin, with the bank disclosing that it plans to allow users to make charitable donations using virtual currency. In March 2016, it was announced that Barclays had plans to sell its business in Africa amid falling profits.

In April 2016, Barclays announced an agreement that allowed its UK customers to use Apple Pay.

The bank announced in May 2017 that it will sell 1.5 billion pounds of shares from its subsidiary Barclays Africa Group as part of a strategy to refocus its business from Africa to the UK and the US. In September 2017, Barclay sold the last part of its retail banking segment in continental Europe after selling French retail, wealth and investment management operations to AnaCap.

To counteract the effects of Brexit, Barclays borrowed Ãƒ, Ã‚ Â£ 6 billion from the Bank of England between April and June 2017, as part of a post-referendum stimulus package launched in August 2016. Former Barclays boss Bob Diamond argues in an interview with > The Independent in September 2017 that the City of London will feel a stronger negative impact than Brexit than expected in general. Diamond believes that both banking work and legal and support operations will eventually move to the Continent.

Maps Barclays

Operation

Barclays operations are organized into two business groups: Corporate and Investment Banking and Wealth and Investment Management; and Retail and Business Banking. Corporate and Investment Banking and the Wealth and Investment Management cluster consist of three business units: Corporate Banking; Investment banking; and Management of wealth and investment. The Group of Retail and Business Banking consists of four business units: Africa Retail and Business Banking; Barclaycard (credit card and loan provision); European Retail and Business Banking; and the UK Retail and Business Banking.

The main division and subsidiary

The major divisions and subsidiaries of Barclays include:

Branches and ATM

Barclays has over 4,750 branches in 55 countries and about 1,600 are in the UK. In the UK, Barclays also offers several personal banking services through the branches of the Post Office. Most Barclays branches have 24/7 ATMs. Barclays customers and customers from many other banks can use Barclays ATMs for free in the UK, although in some other countries charges are charged. Barclays is a member of the Global ATM Alliance, an alliance of international banks that allows any bank to use their ATM or debit card in all other member banks without the cost of ATM access when traveling abroad.

Senior management

The Group Chairman is John McFarlane, who joined the Board on 1 January 2015 and becomes chairman at the annual general meeting on April 23, 2015. McFarlane became chief executive on 8 July after the dismissal of Group Chief Executive Antony Jenkins.

On October 28, 2015 Barclays announced that Jes Staley, managing partner at BlueMountain Capital and UBS board of directors, has been designated as the Barclays Group Chief Executive Officer effective December 1, 2015.

Executive Committee

The current members of the Barclays Executive Committee are:

Jes Staley (Group Chief Executive)
Paul Compton (Group Chief Operating Officer);
Bob Hoyt (Group General Counsel);
Tristram Roberts (Group Human Resources Director);
Tushar Morzaria (Group Finance Director);
Laura Padovani (Group Chief Compliance Officer);
C. S. Venkatakrishnan (Group Chief Risk Officer);
Tim Throsby (President, Barclays International)

Board of directors

Current members of the Barclays board of directors are:

John McFarlane (Group Chair);
Jes Staley (Group Chief Executive)
Mike Ashley (non-executive director);
Team Breedon (non-executive director);
Crawford Gilles (Senior Independent Director);
Sir Gerry Grimstone (non-executive director);
Reuben Jeffery III (non-executive director);
Tushar Morzaria (Group Finance Director);
Dambisa Moyo (non-executive director);
Frits van Paasschen (non-executive director);
Diane de Saint Victor (non-executive director);
Diane Schueneman (non-executive director);
Stephan Thieke (non-executive director).

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Controversy

Compensation for Jewish Holocaust Victims

In 1998, Barclays Bank agreed to pay $ 3.6 million to Jews whose assets were confiscated from French branches of a UK-based bank during World War II. Barclays, along with seven French banks, were named in a lawsuit filed in New York on behalf of Jews who were unable to recover the money they had saved during the Nazi era.

Financial support for government in Zimbabwe

Barclays helped fund the government of President Robert Mugabe in Zimbabwe. The most controversial of a set of loans provided by Barclays is the Â£ 30 million it provides to help sustain land reforms that saw Mugabe seize white farmland and encourage more than 100,000 black workers from their homes. Opponents call bank involvement a 'disgrace' and 'humiliation' for millions of people who have suffered human rights abuses. A Barclays spokeswoman said the bank has had customers in Zimbabwe for decades and leaving them now will make things worse, "We are committed to continuing to provide services to customers in what is clearly a difficult operating environment."

Barclays also provides Mugabe's two associates with bank accounts, ignoring EU sanctions in Zimbabwe. The men were Elliot Manyika and public service minister Nicholas Goche. Barclays has retained its position by insisting that the EU rule does not apply to Zimbabwe's 67% subsidiary because it is entered outside the EU.

Allegations of money laundering

In March 2009, Barclays was accused of violating international anti-money laundering laws. According to NGO Global Witness, the Barclays branch in Paris holds the account of Equatorial Guinean Teodoro Obiang's President Teodorin Obiang even after proof that Obiang had siphoned oil revenues from government funds that emerged in 2004. According to Global Witness, Obiang bought Ferrari and maintained a house in Malibu with funds from this account.

The 2010 report by the Wall Street Journal illustrates how Credit Suisse, Barclays, Lloyds Banking Group, and other banks are involved in assisting the Alavi Foundation, Bank Melli, the Iranian government, and/or others avoiding US law prohibiting financial transactions with certain countries.. They do this by 'disarming' information from wire transfers, thereby concealing sources of funds. Barclays settled with the government for US $ 298 million.

Tax evasion

In March 2009, Barclays obtained orders against The Guardian to remove from its website a leaked confidential document describing how SCM, the structured capital markets division of Barclays, plans to use more than Ãƒ, Ã‚ Â£ 11bn of loans for creating hundreds of millions of pounds of tax profits, through "complicated circuits of Cayman Islands companies, US partnerships and subsidiaries of Luxembourg". In an editorial on this issue, The Guardian shows that, due to resource incompatibility, tax collectors (HMRC) now have to rely on websites such as WikiLeaks to obtain the documents, and indeed questionable documents now appear on WikiLeaks. Separately, other Barclays whistleblowers revealed a few days later that SCM transactions had generated between Ãƒ, Ã‚ Â£ 900 million and Ãƒ, Ã‚ Â£ 1 billion in tax evasion in one year, adding that "Transactions begin with taxes and then commercial purposes are added to them. "

In February 2012 Barclays was forced to pay a tax of Â£ 500 million that it has been trying to avoid. Barclays was accused by HMRC to design two schemes intended to avoid a large amount of taxes. The tax rules forced the bank to notify the British authorities of its plans. David Gauke, Minister of Finance Minister of Finance, said that "We take no action today lightly, but the potential tax loss from this scheme and the history of previous abuse in this field means that this is the circumstance in which the decision to amend the law with a retrospective effect fully justified. "

The pricing scandal

In June 2012, as a result of an international inquiry, Barclays Bank was fined as Ãƒ, Ã‚ Â£ 290 million (US $ 450 million) to manipulate the daily arrangements of the London Interbank Offered Rate (Libor) and Euro Interbank Offered Rate (Euribor). ). The US Department of Justice and Barclays officially agree that "the manipulation of the filings affects the fixed rate on several occasions". The bank was found to have undertaken 'inappropriate submissions' of interest rates that form part of Libor and Euribor regulatory processes, sometimes for profit, and other times to make banks look safer during the financial crisis. This happened between 2005 and 2009, as often as every day.

The BBC said the revelations about the fraud were "greeted with an almost universal surprise in the banking industry." The UK Financial Services Authority (FSA), which levied a fine of Â£ 59.5 million ($ 92.7 million), gave Barclays the largest fine ever imposed in its history. The FSA's enforcement director described Barclays's behavior as "totally unacceptable", adding "Libor is a very important reference level reference, and it's reliable for many, hundreds of thousands of contracts worldwide." Chief executive of the bank, Bob Diamond decides to hand over his bonus as a result of the fine. Liberal Democrats politician Lord Oakeshott criticized Diamond, saying: "If he feels ashamed he will leave.If the Barclays board has a backbone, they will fire him." The US Department of Justice has also been involved, with "financial institutions and other individuals" being investigated. On July 2, 2012, Marcus Agius resigned from the position of chairman after the interest rate cheating scandal. On July 3, 2012, Bob Diamond resigned immediately, leaving Marcus Agius to fill his post until his successor was found. Within a few hours, this was followed by the resignation of Bank's chief operating officer, Jerry del Missier. Barclays later announced that Antony Jenkins, chief executive of Global Retail & amp; Business Banking will become group executive chairman on August 30, 2012. On February 17, 2014 the Serious Fraud Office accused three former bank employees Peter Charles Johnson, Jonathan James Mathew and Stylianos Contogoulas by manipulating Libor rates between June 2005 and August 2007.

Qatari capital increases regulatory investigation

Barclays' capital raising June and November 2008 was the subject of investigation. The Serious (UK) Fraud Office commenced its investigation in August 2012. In October 2012, the US Department of Justice and the US Securities and Exchange Commission notified Barclays that they had begun an investigation of whether group relations with third parties assisted Barclays to win or keep business in line with US Foreign Corruption Practices Act. The Financial Services Authority announced the extension of the investigation into the Barclays-Qatar deal in January 2013, focusing on disclosure of bank ownership of securities.

Barclays seeks to raise capital privately, avoiding equity investments directly from the Royal Government of England and, therefore, a bailout. The result is an investment of Abu Dhabi worth 3.5 billion pounds in the bank, an agreement in which H.H. Sheikh Mansour bin Zayed Al Nahyan made a profit of Â£ 3.5 billion. Much of the focus to date has been injected by Qatar in June and November 2008, notably so far the unproved allegation that Barclays lend money to Qatar to invest in banks. Other questions include what happened to Â£ 110 million in fees paid by Barclays as if to Sheikh Mansour, and the Â£ 66 million provided by Barclays to Qatar for unexplained "advisory fees".

In June 2017, following a five-year investigation by the UK Office of Serious Scams that included Barclays activities during the 2007-2008 financial crisis, former CEO John Varley and three co-workers Roger Jenkins, Thomas Kalaris and Richard Boath, were accused of conspiracy to commit fraud and provision of unlawful financial assistance in connection with capital increase.

In February 2018, the Serious Fraud Office accused Barclays of "unauthorized financial aid" associated with the billions of pounds earned from the Qatar deal.

US electric market manipulation

In July 2013, the US Federal Energy Regulatory Commission (FERC) ordered the Barclays to pay a Â£ 299 million fine to try to manipulate the US electricity market. Fines by FERC are related to the allegations in December 2008.

Gold price manipulation

In May 2014, the Financial Conduct Authority fined the Â£ 26mn bank on the system and controlled failures, and conflicts of interest in relation to the bank and its customers in connection with the determination of gold during the 2004-2013 period, and for gold price manipulation on June 28, 2012.

The US lawsuit accuses the dark pool scams

In June 2014, the state of New York USA filed a lawsuit against a bank accusing him of cheating and deceiving investors with inaccurate marketing materials about an unregulated trading system known as a dark pool. In particular, the company was accused of hiding the fact that Tradebot participated in a dark pool when they were actually one of the biggest players. The state, in its complaint, said it was helped by a former Barclays executive and his party was seeking unspecified damage. Bank shares fell 5% on news of a lawsuit, prompting an announcement to the London Stock Exchange by the bank saying it took serious allegations, and cooperating with New York's attorney general.

A month later the bank filed a motion for the lawsuit to be dismissed, saying there was no fraud, no casualties and no harm to anyone. The New York Attorney General's Office issued a statement saying the attorney general was convinced the move would fail. On January 31, 2016, Barclays settled with the New York Attorney's Office and the SEC, agreeing to pay $ 70 million equally between the SEC and New York state, admitting it violated securities laws and agreed to install independent monitors for dark pools.

Exchange exchange (Last Display system)

Barclays PLC agreed to pay $ 150 million to complete an investigation by New York's banking regulator into a trading practice that allows banks to exploit long-term milliseconds delays between orders and executions that sometimes hurt clients, the latest collapse of foreign banks in exchange businesses.

In some cases, Barclays uses this latter view system to automatically reject client orders that are unprofitable for the bank due to subsequent price changes during the millisecond latency period ("hold"). Furthermore, when clients questioned Barclays about this rejected trade, Barclays failed to disclose the reason that trading was rejected, instead of citing technical issues or providing unclear responses.

Inappropriate mutual fund transactions

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Senin, 02 Juli 2018

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