Barclays’s Staley Probed for Trying to Unmask Whistle-Blower
- Regulators review whether bank chief tried to unmask tipster
- Anonymous complaint about Barclays official sparked inquiries
Barclays to Reprimand CEO Staley, Cut Pay
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Barclays Plc Chief Executive Officer Jes Staley faces a “significant” pay cut and a regulatory probe for trying to unmask an anonymous whistle-blower last year.
The U.K. Financial Conduct Authority is investigating both Staley’s individual conduct relating to the complaint and the bank’s responsibilities and controls in connection with whistle-blowing, the bank said in a statement. The violation of policy leaves Staley, 60, open to a fine or even a ban from the industry if the FCA deems him not “fit and proper” to lead the firm. Staley, who will be reprimanded by the firm, has admitted his error and apologized.