The Financial Conduct Authority has fined and banned James Staley, former CEO of Barclays, from the financial services industry due to misleading statements made about the nature of his relationship with Jeffrey Epstein.
The regulator said today (12 October) it had decided to impose a £1.8m fine and a ban preventing Staley from holding a senior management or significant influence function in the financial services industry. The decision stemmed from the fact that the former Barclays CEO "recklessly approved" a letter sent by the bank to the regulator, which contained two "misleading statements" about the nature of Staley's relationship with Jeffrey Epstein and the point of their last contact, the FCA said. In 2019, the regulator asked Barclays to explain the steps it had taken to assess there had been...
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