When is a simple fine insufficient for anti-money laundering rules infractions or violations of the Foreign Corrupt Practices Act, U.K. Bribery Act, or banking frauds such as the LIBOR scandal?
Was the penalty assessed by the U.K. Financial Conduct Authority to Barclays CEO Jes Staley for his attempts to unmask an anonymous, internal whistleblower punishment enough? While Staley paid the unreported fine, it now appears that a high-ranking official at French bank SociétéGénérale (SocGen) paid another type of price for a violation—he lost his job.
