Barclays make statement over Staley investigations

Barclays has confirmed that FCA and PRA have issued draft warning notices in respect of their investigations into the the bank and its group CEO Jes Staley in respect of an attempt by Mr Staley to identify the author of an anonymous letter. The regulators propose a fine for breach of Individual Conduct Rule 2 by Mr Staley but do not allege any lack of integrity or fitness and propriety to continue acting as group CEO. The regulators will not take any further action against the bank itself, but are proposing that Barclays Bank PLC and Barclays Bank UK PLC will be subject to requirements to report to PRA and FCA on aspects of their whistleblowing programmes.

The announcement notes that Barclays continues to cooperate with US investigations and says there will be no further statement, nor any decision on the impact of the decision on Mr Staley’s remuneration, until the enforcement processes have concluded.