How the change will happen
You do not need to take any action for the change to take place.
On 9 March 2018, we received approval from the Prudential Regulation Authority (PRA) and the High Court of England and Wales (the “Court”) to complete the restructure using a legal process called a Ring-Fencing Transfer Scheme (the “Scheme”) under Part VII of the Financial Services and Markets Act 2000. The court order approving the Scheme is available here.
The Scheme becomes effective on 1 April 2018 and the restructure will be implemented on this date.
The period for making a Statement to the Court in relation to the Scheme has now come to an end and Barclays’ Objections Portal has been closed. If you do have any queries please refer to your usual contacts at Barclays.
Timetable for the Court process
- 10 November 2017: Directions Hearing agreed the overall plan for communications with stakeholders
- 1 February 2018: Case Management Conference where the process at the Sanction Hearing was discussed
- 27 and 28 February 2018: Sanction Hearing where the Court approved the Ring-Fencing Transfer Scheme
Our document library contains copies of the following important documents relating to the Scheme:
- a report on the terms of the Scheme that has been produced by the Skilled Person, who has been approved to carry out this role by the Prudential Regulation Authority in consultation with the Financial Conduct Authority (the “Skilled Person’s Report”);
- the document that sets out the terms of the transfers under the Scheme;
- a Statement that contains a summary of the terms of the Scheme and the Skilled Person’s Report; and
- a Supplementary Report, that has been produced by the Skilled Person, and provides an updated assessment of the terms of the Scheme.
How can I protect myself from fraud?
We are committed to providing our customers and clients with the information they need to combat fraud and cybersecurity breaches. If you have any concerns around the risks of fraud or scams, information on how to protect against fraud can be found at:
Please note, a genuine bank or organisation will not contact you out of the blue to ask for your PIN, full password or to move money to another account. Never give out your personal or financial details unless it is necessary to use a service that you have requested and given your consent to, and where you trust the provider.
Where to go for more information
We’ll continue to update this page with more information on our plans, and what they mean for you.
The Financial Conduct Authority (FCA) and the Bank of England (BoE) have published information explaining more about ring-fencing.
Information for individuals receiving banking services from Barclays
Key information about the business activities of Barclays Bank PLC following ring-fencing