Barclays chief Staley survives whistleblowing inquiry with fines [Reuters]
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Source: Reuters
Barclays chief Staley survives whistleblowing inquiry with fines | Reuters 4 Min Read LONDON (Reuters) - Barclays ( BARC.L ) said Jes Staley will be fined by British regulators for attempting to unmask a whistleblower, but will be able to keep his job as the bank’s chief executive. The country’s banking watchdogs concluded Staley’s attempt to find out who wrote a letter raising “concerns of a personal nature” about an unnamed senior employee represented a breach of individual conduct, Barclays said on Friday. Staley’s case is the first big test of Britain’s “senior managers regime” (SMR), aimed at making top banking officials personally accountable for their actions after few were punished for their roles in bank collapses during the financial crisis. If Staley accepts the findings of the regulators, it would be the first time that a sitting chief executive of a major bank in Britain has been fined by its regulators. A bank spokesman said the size of the fine had yet to be determine
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