Barclays CEO fined in UK over whistleblower scandal

Barclays CEO Jes Staley has survived a British investigation into his attempt to identify a whistleblower in 2016...

Posted: Apr 20, 2018 9:57 AM
Updated: Apr 20, 2018 9:57 AM

Barclays CEO Jes Staley has survived a British investigation into his attempt to identify a whistleblower in 2016 but will have to pay a fine.

Two UK regulators, the Financial Conduct Authority and the Prudential Regulation Authority, have concluded their investigation into Staley's actions and have told him to pay a "financial penalty" as punishment, Barclays said in a statement on Friday.

The bank did not say how much its CEO is expected to pay.

The regulators found that Staley failed to act with "due skill, care and diligence" but did not accuse him of lacking integrity and ruled him fit to continue as CEO, the bank added.

Related: Deutsche Bank accidentally sent a $35 billion payment

The American banking executive admitted last year that he had "made a mistake" by attempting to find out who authored an anonymous letter that raised concerns about a senior Barclays employee.

"I should have left the organization to handle it," Staley said in 2017, while announcing that he would not resign from his position over the incident. Barclays said then that it would cut his pay for 2017 as a result.

Staley is still being investigated by US authorities over the incident. Barclays said Friday it continues to cooperate with that investigation.

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