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FSA to investigate Barclays over Qatar, Abu Dhabi fundraising

The UK's Financial Services Authority (FSA) has launched an investigation over the disclosure by Barclays of fees paid to advisors when it raised funds from investors in Qatar and Abu Dhabi in 2008. The probe focuses on millions of pounds in commissions the bank paid to help secure the £7.1bn raised from Qatar, Abu Dhabi and its own shareholders in November 2008, and the £4.5bn from investors including Qatar and Sumitomo Mitsui Banking Corp in June 2008. Neither Barclays or the FSA have revealed further details of the investigation, but Barclays chairman Marcus Agius said he is 'satisfied' that the bank had given sufficient disclosure on the fees paid.