FinesFSMA
Barclays Bank UK PLC
FRN 75967615 December 2020
01 · In plain English
What happened.
On 15 December 2020 the Financial Conduct Authority issued a Final Notice fining Barclays Bank UK PLC, Barclays Bank PLC and Clydesdale Financial Services Limited after finding that between 1 April 2014 and 31 December 2018 the firms failed to treat business and retail customers in arrears or financial difficulty with forbearance and due consideration. The FCA said the firms breached Principle 6 (must pay due regard to customers’ interests and treat them fairly), Principle 3 (must organise and control their affairs responsibly and effectively) and CONC rules on treating customers in default or arrears. The FCA action took effect on 15 December 2020; the regulator’s Final Notice is at the URL you provided. The FCA register entry and Final Notice set out the breaches and the period examined.
Summary generated from the FCA notice and press reports. Check the final notice below before relying on it.
02 · Enforcement details
What the FCA register says.
On 15 December 2020, the FCA fined Barclays Bank UK PLC, Barclays Bank PLC, Clydesdale Financial Services Limited (Barclays) . The reason for this action is that between 1 April 2014 and 31 December 2018, Barclays breached Principles 6 and 3 of the Authority’s Principles for Businesses and CONC 6.7.2R, 7.2.1R and 7.3.4R from its Consumer Credit sourcebook by failing to show forbearance and due consideration to business and retail customers when they fell into arrears or experienced financial difficulties. The FCA’s action took effect on 15 December 2020 and a copy of the Final Notice is displayed on the FCA's web site here
03 · Firm details
Firm on the FCA register.
- Firm name
- Barclays Bank UK PLC
- Firm reference number
- 759676
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