Varley is one of the four current or former executives whom the FSA is investigating over advisory fees paid by the bank to Qatar Holding.
Further, the payments were linked to the sovereign wealth fund’s participation in an US$17.5 billion refinancing of the British bank at the height of the financial crisis.
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The probe may lead to a reduction in the chances of Varley becoming the new Governor of the Bank of England, a post with which he has been linked.
Though an FSA spokesman and a Barclays spokesman declined to comment on the matter, Barclays had recently confirmed the launch of a criminal probe into payments between Barclays and Qatar Holding.
UK’s Serious Fraud Office (SFO) has already started an investigation into payments under certain commercial agreements between it and Qatar.
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