Barclays Bank CEO Jes Staley has been fined £642,430 (U.S. $870,619) by U.K. financial regulators for attempting to unmask a whistleblower. Additionally, Staley will see £500,000 (U.S. $677,599) hewed from his bonus.
The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have jointly fined Staley for his failure “to act with due skill, care, and diligence” in the way he responded to an anonymous letter received by Barclays in June 2016, which “risked undermining confidence in Barclays’ whistleblowing procedures,” noted an FCA news release.
