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Barclays’ Staley to be fined in whistleblower case

Neil Hodge | April 24, 2018

Following investigations by the U.K. financial regulators, Barclays bank chief Jes Staley gets to keep his job but faces a significant fine—as well as a cut from his bonus—after admitting using bank staff to try to reveal a whistleblower’s identity.

One year and 10 days after the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) began their investigation into Staley’s conduct, Barclays announced on 20 April that the bank’s CEO will likely face a fine from regulators for trying to uncover a whistleblower.

In a statement, Barclays said that regulators have sent Staley confidential draft warning notices setting out their reasons for proposing enforcement actions.

The FCA and PRA allege that Staley’s attempt to unmask an anonymous whistleblower breached Individual...

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