The former CEO of Barclays has been fined £1.8m after deceptive regulators and the financial institution’s board about his relationship with Jeffrey Epstein.
Jes Staley has additionally been banned from holding senior administration positions within the monetary companies trade.
According to the Financial Conduct Authority, he “recklessly approved” a letter despatched by Barclays to the FCA that included deceptive statements in regards to the nature of his relationship with Epstein, and after they final had contact.
FCA joint enforcement director Therese Chambers mentioned: “A CEO needs to exercise sound judgement and set an example to staff at their firm… It is right to prevent him from holding a senior position in the financial services industry if we cannot rely on him to act with integrity by disclosing uncomfortable truths about his close personal relationship with Mr Epstein.”
A letter despatched to the FCA had claimed Mr Staley didn’t have an in depth relationship with Epstein, who killed himself in a New York jail cell in 2019 whereas awaiting trial on intercourse trafficking prices.
But in emails, the previous CEO had described Epstein as one in every of his “deepest” and “most cherished” associates.
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Source: information.sky.com”