British regulators to fine Barclays CEO, monitor whistleblowing program

Jes Staley, chief executive officer of Barclays Plc

Simon Dawson | Bloomberg | Getty Images

Jes Staley, chief executive officer of Barclays Plc

British regulators have concluded efforts of Barclays chief executive Jes Staley to unmask a whistleblower at the bank represented a breach of individual conduct as well as proposed he pay an undisclosed fine, the bank said on Friday.

Barclays said the Financial Conduct Authority (FCA) as well as the Prudential Regulation Authority (PRA) “are not alleging that will he acted using a lack of integrity or that will he lacks fitness as well as propriety to continue to perform his role as Group Chief Executive Officer.”

The FCA as well as PRA will not take enforcement action against Barclays, the bank said.

The bank will, however, be required to report to the FCA as well as PRA on certain aspects of their whistleblowing programs.

“Barclays management continues to have unanimous confidence in Staley as well as continues to recomment his re-election as a director at the Barclays annual general meeting on May 1,” Barclays said a statement on Friday.

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