Barclays CEO Survives Whistle-Blowing Probe With Only a Fine [Bloomberg Business News]
Barclays PLC (BCS)
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Source: Bloomberg Business News
Barclays Plc Chief Executive Officer Jes Staley survived a year-long regulatory probe into his attempts to unmask a whistle-blower with a fine and his job. While the Financial Conduct Authority and Prudential Regulation Authority will impose a financial penalty on Staley for failing to behave "with due skill, care and diligence" in the scandal, they stopped short of the more serious charge that “he acted with a lack of integrity or that he lacks fitness and propriety to continue to perform his role as group chief executive officer,” the bank said in a statement on Friday. Barclays’s board has “unanimous confidence” in Staley and continues to recommend that he be re-elected at the annual general meeting on May 1, the company said. On top of the regulatory fines, the firm has already said it may claw back his entire 1.3 million-pound ($1.6 million) bonus for 2016. The lender reprimanded its CEO in April last year after discovering he had twice tried to identi
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