UK court drops charges against Barclays in Qatar fundraising

Legal Compliance

A court has dismissed charges against Barclays relating to its emergency fundraising from Qatar at the height of the financial crisis.

The Serious Fraud Office had accused Barclays over a 2008 deal to give to Qatar Holding LLC a $3 billion loan that was then used to invest in the bank, saving it from a government bailout. Prosecutors had also accused Barclays' operating unit with unlawful financial assistance "for the purpose of directly or indirectly acquiring shares in Barclays Plc."

Southwark Crown Court in London dismissed all of the charges on Monday. However, Barclays warned in a statement to the markets that the fraud office is likely to seek to reinstate the charges. Individuals still face charges, as Monday's dismissal only refers to Barclays as a corporate entity.


Related listings

  • Supreme Court addresses question of foreign law in US courts

    Supreme Court addresses question of foreign law in US courts

    Legal Compliance 06/16/2018

    The Supreme Court says United States federal courts should consider statements from foreign governments about their own laws but do not have to consider them as binding.Justice Ruth Bader Ginsburg wrote for a unanimous court that federal courts shoul...

  • MMA star Conor McGregor heads to court for melee charges

    MMA star Conor McGregor heads to court for melee charges

    Legal Compliance 06/13/2018

    Mixed martial arts star Conor McGregor is due in court for a hearing on charges stemming from a backstage melee that was caught on video.He's expected to be joined in Brooklyn on Thursday by friend and co-defendant Cian (KEE'-uhn) Cowley.Video showed...

  • Gamers in court for first time after Kansas 'swatting' death

    Gamers in court for first time after Kansas 'swatting' death

    Legal Compliance 06/13/2018

    Two online gamers whose alleged dispute over a $1.50 Call of Duty WWII video game bet ultimately led police to fatally shoot a Kansas man not involved in the argument will make their first appearances in court Wednesday in a case of "swatting" that h...

USCIS Issues Clarifying Guidance on NAFTA TN Status Eligibility for Economists

U.S. Citizenship and Immigration Services (USCIS) announced today that it is clarifying policy guidance (PDF, 71 KB) on the specific work activities its officers should consider when determining whether an individual qualifies for TN nonimmigrant status as an economist.

The North American Free Trade Agreement (NAFTA) TN nonimmigrant status allows qualified Canadian and Mexican citizens to temporarily enter the U.S. to engage in specific professional activities, including the occupation of economist. The agreement, however, does not define the term economist, resulting in inconsistent decisions on whether certain analysts and financial professionals qualify for TN status as economists.

TN nonimmigrant status is intended to allow a limited number of professionals and specialists to work temporarily in certain specifically identified occupations in the United States. This updated guidance provides USCIS officers with a specific definition of one such category – economists – allowing them to adjudicate applications in a way that complies with the intent of the agreement. This policy update clarifies that professional economists requesting TN status must engage primarily in activities consistent with the profession of an economist. Individuals who work primarily in other occupations related to the field of economics — such as financial analysts, marketing analysts, and market research analysts — are not eligible for classification as a TN economist.