Barclays June 2017 Fraud Charges

In June 2017 Barclays PLC (‘the Bank’) and four former senior executives from the Bank were charged with fraud. It is the first time criminal charges related to the 2008 financial crisis have been brought against a bank in the UK The charges relate to the actions of the Bank in raising additional capital during the financial crisis. The additional capital came from a number of investors including the state-owned inthment fund, Qatar Holdings, and allowed Barclays to retain its independence at a time when two of its biggest UK rivals were bailed out by the government. You are a Financial Manager working for Barclays Bank You have been asked to prepare a 1,500 word report on implications of the Qatar case for John McFarlane, the Chairman of Barclays PLC. Prepare a 1,500 word report covering the following areas: -a) Outline the main features of the 2008 financial crisis and explain its implications for the UK banking sector- -b) Explain why Barclays needed to raise additional capital in 2008- -c) Explain why the Serious Fraud Office consider that the actions taken by the Bank and its executives at that time may have been unlawful- d)Based on your analysis, set out a clear recommendation as to one specific action the Bank should take to prevent this happening again.