All posts tagged: Staley

Ex-Barclays boss Jes Staley faces potential £1.8m fine in UK over Jeffrey Epstein ties | Barclays

The UK’s financial regulator has said it intends to fine the former Barclays chief executive Jes Staley £1.8m and ban him from holding any senior City role for allegedly misleading the watchdog and the bank over his relationship with the late sex offender Jeffrey Epstein. The Financial Conduct Authority (FCA) said Staley had “recklessly approved” a letter from Barclays that mischaracterised how close the two men were, and how recently they had been in contact. It also found Staley was “aware of the risk” that his association with Epstein posed to his career. Barclays said on Thursday that as a result of the regulator’s decision it would also cancel at least £17.8m in bonuses and deferred pay awards that Staley was due to receive. The FCA said its decision regarding the fine and ban was provisional, given that Staley had referred the decision to the regulator’s upper tribunal, where he will push the watchdog to reconsider. In a statement provided by his lawyers, Staley said: “If I had known who JE [Jeffrey Esptein] really was, …