Fortune 500 Index for Investors

Barclays Is Creating a Fortune 500 Index for Investors

Fortune 500 Index for Investors Could Be Beneficial

The U.K.-based global banking giant Barclays has announced an exclusive agreement with Time Inc. to develop a new family of stock indices based on the Fortune 500. The new Barclays indices will track the performance of the public Fortune 500 companies with an equal-weighted index and other weighting methodologies, which will provide alternatives to market-capitalization-weighted indices.

Using the Fortune 500 as a base, the new index may give investors the opportunity to see how the list measures up as a way to ‘play’ the market. Together, the companies on the 2017 Fortune 500 list have a combined $12 trillion in revenues – equal to roughly two-thirds of U.S. GDP.

The bank is set to launch the Barclays Fortune 500 Equal Weighted Index in July 2017.

About The Fortune 500 Index

The Fortune 500 is an annual list of the largest companies in the U.S. ranked by revenue and compiled by Fortune magazine. The list includes some of the highest revenue-generating companies in the U.S., both private and publicly-traded. Top-ranking companies include Walmart, Berkshire Hathaway, Apple, Exxon Mobil, CVS Health, and General Motors.

In sum, the companies on the list earned $890 billion in profits last year and have a total of $19 trillion in market value. This year’s Fortune 500 list marks the 63rd edition.

Call an Investment Fraud Attorney Today

If you are looking for an attorney to review your rights and options, the securities lawyers at Dimond Kaplan & Rothstein, P.A. have recovered more than $100 million from banks and brokerages firms for their wrongful actions.

With offices in Los AngelesNew YorkWest Palm Beach and Miami, our investment fraud attorneys represent clients nationwide and may be able to help you recover your investment losses.

Contact an attorney at Dimond Kaplan & Rothstein, P.A. today to schedule an appointment or consultation to review your rights and options.

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Barclays bank is facing fraud for Barclays Qatar Investments.

Fraud Charges Related to Barclays Qatar Investments

Fraud Charges Related to Barclays Qatar Investments

A five-year investigation by Britain’s Serious Fraud Office (SFO) has led to criminal charges against Barclays and four former Barclays executives. The charges are related to the bank’s dealings with Qataris during the financial crisis.

SFO Charges 4 Former Barclays Executives

The SFO has charged the bank and two top executives with two counts of conspiracy to commit “fraud by false representation” and one of “unlawful financial assistance”. John Varley, the head of the bank, and Roger Jenkins, who headed Barclays’ investment banking and management businesses in the Middle East, are the implicated executives. In addition, SFO charged former executives Tom Karlaris and Richard Boath with “fraud by false representation.” These two have stated that they will contest the charges.
Remarkably, the criminal charges are the first of their kind to be leveled against the head of a big international bank as a result of the crisis.

Barclays Raised Equity from Qatari Investors

The charges are related to Barclays’ arrangements with the Qatari investors, including a loan of $3 billion dollars made to the Gulf state in November 2008.

When banks began to fail at the start of what was to become a global financial crisis, Barclays was one of the few banks to avoid a government bailout. As the crisis deepened, Barclays was able to escape taxpayer rescue by raising private equity to meet the higher capital targets set by regulators. The investments, notably, came from Qataris.

Prior to the November 2008 loan, Barclays agreed to pay £322m over five years to a Qatar Holding for advisory services in the Middle East in June and October of 2008. At the time, the first payment was disclosed, but the second payment and the fees were not.

That June, Barclays raised £4.5 billion from a variety of Qatari investors, including the state-owned Qatar Investment Authority (QIA) and Challenger, which represented Qatar’s then prime minister. A few months later, in October, the bank raised up to £7.3 billion more from additional investors, including Qatar Holding. Qatar Holding is an arm of the QIA, which owns just under 6% of Barclays.

Under investigation, The Financial Conduct Authority (FCA), a British regulator, and American authorities looked into the service agreements, resulting in a fine of £50m in 2013. The bank appealed.

Did You Invest with Barclays?

If you invested with Barclays or think you may be involved in securities fraud, you may have certain legal rights that require your immediate attention.

Call an Investment Fraud Attorney Today

If you are looking for an attorney to review your rights and options, the securities lawyers at Dimond Kaplan & Rothstein, P.A. have recovered over $100 million from banks and brokerages firms for their wrongful actions.

With offices in Los AngelesNew YorkWest Palm Beach and Miami, our securities attorneys represent clients nationwide and may be able to help you recover your investment losses.

Contact an attorney at Dimond Kaplan & Rothstein, P.A. today to schedule an appointment or consultation to review your rights and options.

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