The Upper Tribunal has upheld the Financial Conduct Authority’s decision to ban former Barclays CEO Jes Staley from senior management roles in the financial services sector.
Staley approved a letter, which was sent to the FCA, containing misleading statements regarding his relationship to Jeffrey Epstein and their last point of contact. FCA property fund consultation at risk of becoming irrelevant The letter stated that Staley did not have a close relationship with Epstein, when in fact the former chief executive had described him previously as one of his "deepest" and "most cherished" friends. Furthermore, the letter from Staley claimed that contact between the two had ceased well before his role at Barclays. In reality, they were in contact mere days...
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