Ex-Barclays CEO Staley ‘Recklessly’ Misled Watchdog, Probe Finds
- FCA fines and bans Staley over his ties to late sex offender
- Banker, who quit Barclays in 2021, is appealing decision
Jes Staley in New York in June.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Former Barclays Plc boss Jes Staley has been fined £1.8 million ($2.2 million) and banned from the UK financial services industry after “recklessly” misleading regulators and the bank about his relationship with the late financier and sex offender Jeffrey Epstein.
The Financial Conduct Authority said Staley privately described Epstein as one of his “deepest” and “most cherished” friends. Yet he allowed Barclays to send a letter to the watchdog that distanced him from the financier, incorrectly stating that he’d ceased contact before joining the bank in 2015, according to the FCA.