Barclays: U.K. Regulators Propose to Fine CEO Staley in Whistleblower Case
April 20 2018 - 3:10AM
Dow Jones News
By Adria Calatayud
Barclays PLC (BARC.LN) said Friday that British regulators have
proposed fining its Chief Executive Jes Staley, after an
investigation over his attempt to identify a whistleblower.
The U.K.'s Financial Conduct Authority and Prudential Regulation
Authority have concluded their investigation into Mr. Staley and
each have proposed that he pay a financial penalty, Barclays said.
The amount of the proposed fine wasn't disclosed.
In draft warning notices proposing enforcement actions, the
regulators didn't allege that Mr. Staley acted with a lack of
integrity or that he lacks fitness to continue to perform his role,
the U.K. bank said. Barclays said its board continues to have
unanimous confidence in Mr. Staley.
The FCA and PRA won't take enforcement action against Barclays
Bank PLC, but the bank will be required to report to the regulators
on certain aspects of their whistleblowing programs, Barclays
said.
Mr. Staley now has a period to review the draft warning notices
and make representations to the regulators, Barclays said.
The U.K. regulators' investigation was focused on attempts by
Mr. Staley last year to identify a whistleblower who sent anonymous
letters criticizing an executive he hired.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
April 20, 2018 02:55 ET (06:55 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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