According to China Tong Financial APP, Barclays (BCS.US) was fined 40 million british pounds (approximately 50.3 million USD) by UK regulators for failing to disclose details of the Qatari bailout during the 2008 financial crisis and decided to withdraw its appeal. The bank stated in a statement on Monday that while it does not accept the ruling, considering that many years have passed, it decided not to contest it further, and it had already made a provision for the fine in 2022, so Monday's decision will not have a significant impact on its financial condition.

Barclays had originally planned to appeal the ruling from the UK Financial Conduct Authority (FCA) this week, but announced the withdrawal of its appeal on Monday. The bank emphasized in its statement that although it does not accept the investigative findings in the FCA's notification, both parties have reached an understanding on this issue, and the bank decided not to contest it further. Meanwhile, the bank had made a corresponding provision for the fine last year, so this decision will not have a significant impact on the bank's financial condition.

Steve Smart, Joint Executive Director of Enforcement and Market Oversight at the FCA, noted in another statement that Barclays' misconduct was very serious, resulting in investors not receiving all the necessary information. However, he also acknowledged that these events occurred 16 years ago, and today's Barclays is a completely different organization.

UK regulators had imposed a 50 million british pounds fine on Barclays for the Qatari financing incident.

Two years ago, the UK Financial Conduct Authority (FCA) planned to fine Barclays 50 million british pounds (approximately 55.8 million USD) for failing to disclose payment agreements with Qatar during its fundraising efforts in the 2008 financial crisis. Barclays contested this and submitted the case for reevaluation to a higher court, firmly asserting that it had not violated regulatory obligations.

At that time, the FCA accused Barclays in a statement of not fully disclosing consulting fees paid to Qatari investment vehicles and characterized its behavior as 'reckless' and lacking integrity. This penalty was the second time UK regulators had imposed sanctions on Barclays after the bank won a lawsuit against the UK's Serious Fraud Office and had the criminal conspiracy charges dismissed.

A spokesperson for Barclays stated that the investigative findings had been submitted to a higher court for re-evaluation and emphasized that the bank had not violated regulatory obligations and therefore should not be penalized.

This investigation is related to barclays' efforts to avoid nationalization during the financial crisis. As the financial crisis swept through the bank's balance sheet and two competitors faced nationalization, barclays executives turned to Qatar for investment to avoid government bailouts. However, this trade has since become a legal issue.

FCA Executive Director of Enforcement and Markets, Mark Steward, pointed out that barclays paid hundreds of millions of british pounds to Qatari investors to obtain new capital but failed to notify the market and shareholders as required, which is reckless and lacking in integrity.

It is worth mentioning that the united kingdom's Financial Conduct Authority issued a warning notice to barclays in 2013, but the case was suspended until the conclusion of a serious fraud office case in the united kingdom. The serious fraud office case was dismissed due to prosecutors' failure to prove that bank executives were involved.

The FCA stated that it plans to establish 'special attribution rules' to prevent similar determinations in the future, but barclays has questioned this, arguing that the rules are confusing and unworkable.