Barclays said it would fight the fine. But since the SFO launched its inquiry in 2012, the FCA proceedings have been on hold. It is understood that the FCA has now restarted its probe after Barclays handed over around 100,000 documents to the SFO. The FCA’s decision adds to the pressure on Barclays boss Jes Staley, who joined the bank as its chief executive in December 2015 but must nevertheless deal with the potential fallout from events that took place almost a decade ago. The SFO has interviewed a number of former senior Barclays bosses as part of its probe, including Mr Varley and his successor as chief executive, Bob Diamond, who left amid the furore over the Libor rigging scandal in 2012. Barclays itself could potentially face criminal prosecution depending on the decision reached by the SFO. Like other banks, the firm is struggling to shake off the legacy of its troubled past. In December, it emerged that the lender faced a lawsuit from the US Department of Justice after it failed to reach a settlement with American authorities over claims it mis-sold toxic mortgage-backed securities that contributed to the financial crisis. Last month, Barclays posted a near trebling of annual pre-tax profits to £3.23bn from £1.15bn in 2015 after the bank paid out less to settle litigation and to the victims of the payment protection insurance mis-selling scandal.
The Financial Conduct Authority ( FA ) has suspended its investigation into Barclays over its illegal fundraising with banks during the financial crisis , potentially leading the regulator to lift the £ 50 ##m fine it imposed on the lender in 2013 .