Former Barclays CEO Staley fined and banned by UK regulator over Epstein links
Publishing timestamp: 2023-10-12 10:41:21
Summary
The article reports that former Barclays CEO Jes Staley has been fined and banned from holding any position of influence in the U.K. financial services industry for misleading regulators about his relationship with sex offender Jeffrey Epstein. The U.K. regulator, Financial Conduct Authority (FCA), fined Staley £1.8 million ($2.21 million) and banned him from holding senior management or significant influence functions in the sector. The FCA found that Staley had "recklessly approved" a letter sent by Barclays to the regulator that contained misleading statements about his relationship with Epstein. Staley stepped down as CEO in November 2021 following the initial FCA probe. Barclays has determined that Staley should forfeit a number of past bonuses and compensation awards totaling £17.8 million.
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Keywords: crime, barclays plc, banks, business news, breaking news: politics, politics,