SFO charges Barclays Bank

  • by Shawn Tate
  • in Economy
  • — Feb 12, 2018
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Barclays PLC, Varley and Jenkins have also been charged with providing unlawful assistance over allegations linked to an October 2008 fundraising.

On 20 June 2017 Barclays Plc (LON:BARC) announced that the Serious Fraud Office ("SFO") had brought certain charges against Barclays PLC in relation to matters that arose in the context of Barclays' capital raisings in 2008.

When the charges were announced previous year, the SFO had still to take a decision on whether to charge Barclays Bank PLC, the main operating unit, but has pushed ahead this month.

Barclays PLC and Barclays Bank said in a statement that they intend to defend themselves against the charges, and do not expect there will be an impact on customers or clients as a result of the investigation.

The SFO declined to comment on the timing of the charges, but authorities can only file charges if the evidence is sufficient for a â€realistic prospect of conviction” and if such a prosecution is in the public interest.

Two former top executives also face a charge of unlawful financial assistance.

Monday's additional charge was brought against Barclays' operating company, which holds the lender's banking license. That separate charge has not been made against the operating arm.

Barclays' share price has advanced in today's session, having jumped 1.22 percent to 195.25p as of 09:22 GMT.

It follows charges against the bank's holding company and four executives in June past year related to the same deal.

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