Britain's financial regulator has fined Barclays 40 million pounds ($50.9 million) for its failure to disclose payments made to Qatari entities in 2008, after the bank on Monday said it had dropped its appeal over the case.

Barclays Plc has been fined £40 million ($50.3 million) by British regulators over failures to disclose details of its rescue by Qatar during the 2008 financial crisis.

The FCA ruled that the bank should have disclosed more details to the stock market around the £11.8bn in emergency funding it received, which averted a need for taxpayer aid following the 2008 shock.

The UK-headquartered bank will pay a fine of 40 million pounds to British regulators for failing to disclose information of its rescue by Qatar during the 2008 financial crisis.

Britain's financial regulator has fined Barclays £40m for its failure to disclose payments made to Qatari entities in 2008, after the bank today said it had dropped its appeal over the case.

The UK's financial watchdog has fined Barclays £40m over conduct during a fundraising drive in 2008 which it has called "reckless" and lacking integrity. The Financial Conduct Authority (FCA) says the bank failed to disclose arrangements with Qatari investors when it was looking to raise money at the height of the financial crisis.

Britain's financial regulator said on Monday it had fined Barclays 40 million pounds ($50.9 million) in total for its failure to disclose certain arrangements with Qatari entities in 2008. The fine by the Financial Conduct Authority dates back to the height of the 2008-9 financial crisis,

Barclays has been fined £40million over secretive payments to QatarI institutions during the 2008 global financial crisis.