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Ex-Barclays Bank boss Staley banned from senior UK finance roles over misleading Epstein statements
Britain’s financial regulator has fined the American former chief executive of Barclays, Jes Staley, 1.8 million pounds ($2.2 million) and banned him from holding senior financial roles for misleading it over the nature of his relationship with the late sex offender Jeffrey Epstein
LONDON (AP) — Britain's financial regulator said Thursday that it fined Barclay's former chief executive Jes Staley 1.8 million pounds ($2.2 million) and banned him from holding senior financial roles for misleading it over the nature of his relationship with the late sex offender Jeffrey Epstein.
The Financial Conduct Authority said in a statement that Staley, a U.S. citizen, had “recklessly approved” a letter sent by Barclays to the FCA, which claimed the bank’s former boss did not have a close relationship with Epstein.
But in email messages, Staley described Epstein as one of his “deepest” and “most cherished” friends, according to the regulator.
“A CEO needs to exercise sound judgement and set an example to staff at their firm," said Therese Chambers, joint executive director of enforcement and market oversight at the FCA. “Staley failed to do this. We consider that he misled both the FCA and the Barclays board about the nature of his relationship with Epstein.”