Former Barclays CEO Jes Staley on Thursday was fined and banned from holding any position of influence in the U.K. financial services industry.
U.K. regulator the Financial Conduct Authority announced on Thursday that it had decided to fine Staley £1.8 million and ban him from holding a senior management or significant influence function in the sector.
LONDON — Former Barclays CEO Jes Staley on Thursday was fined and banned from holding any position of influence in the U.K. financial services industry for misleading the regulator over his relationship with sex offender Jeffrey Epstein. The FCA found that Staley"recklessly approved" a letter sent by Barclays to the regulator that contained two misleading statements about the nature of his relationship with Epstein and the point of their last contact.Therese Chambers, joint executive director of enforcement and market oversight at the FCA, said in a statement Thursday that a CEO"needs to exercise sound judgment and set an example to staff at their firm.
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