BusinessPostCorner.com
No Result
View All Result
Tuesday, July 15, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Jes Staley fails to overturn ban over Jeffrey Epstein links

June 26, 2025
in Finance
Reading Time: 2 mins read
A A
0
Jes Staley fails to overturn ban over Jeffrey Epstein links
ShareShareShareShareShare

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Jes Staley has failed to overturn a decision by the Financial Conduct Authority that he “recklessly” misled the regulator about his ties to convicted sex offender Jeffrey Epstein, in a major setback to the former chief executive of Barclays.

In a judgment handed down on Thursday by the Upper Tribunal, Judge Timothy Herrington said Staley’s behaviour represented a “serious failure of judgment” and he had “acted without integrity” by approving a misleading letter from the bank to its regulator.

The judge, however, ordered that the £1.8mn fine imposed on Staley by the regulator be reduced by 40 per cent to reflect the fact that Barclays had not allowed him to receive deferred shares that he was entitled to.

The former Barclays boss had mounted a legal challenge against the ban and fine imposed on him by the FCA in 2023, with a high-profile trial taking place in March.

Herrington found that Staley had approved a Barclays letter to regulators that he knew contained inaccuracies over the nature of his relationship with Epstein, and that Staley’s “conduct was such that it could have resulted in confidence in the financial system being adversely affected”.

The judgment also found that Staley had “shown no remorse for his conduct”.

At the heart of the dispute were two representations made by Barclays in a letter the bank sent to regulators in October 2019, which stated that Staley “did not have a close relationship” with Epstein and that they last communicated “well before he joined Barclays in 2015”.

The FCA opened an investigation into Staley two months later, after his former employer JPMorgan Chase told the regulator it had a trove of documents regarding his relationship with Epstein, which the FCA compelled the US bank to hand over.

“We have noted Mr Staley’s achievements as chief executive of Barclays, but in our view these do not diminish the seriousness of the misconduct,” the judgment read. “The loss of his long-standing career is an inevitable consequence of that conduct.”

A request to Staley’s lawyer to comment was not immediately returned. Barclays declined to comment.

Therese Chambers, joint executive director of enforcement and market oversight at the FCA, said Staley had taken “a calculated risk” and “hoped that the truth would never come to light and that he would get away with it”. She added: “Such a serious lack of integrity flies in the face of the requirements we place on those at the top.”

Credit: Source link

ShareTweetSendPinShare
Previous Post

[LIVE] What’s Happening in Crypto Today, June 26?

Next Post

The sandwich generation is growing. What HR can do

Next Post
The sandwich generation is growing. What HR can do

The sandwich generation is growing. What HR can do

Volodymyr Zelenskyy nominates new Ukraine PM in major reshuffle

Volodymyr Zelenskyy nominates new Ukraine PM in major reshuffle

July 14, 2025
Revolut in talks to raise new funding at bn valuation

Revolut in talks to raise new funding at $65bn valuation

July 9, 2025
90% of America’s ice cream supply just bowed to RFK and agreed to cut artificial dyes from their products

90% of America’s ice cream supply just bowed to RFK and agreed to cut artificial dyes from their products

July 14, 2025
XRP Price Prediction: Its Ascent to #3 After 25.8% Weekly Gain – Will Momentum Hold?

XRP Price Prediction: Its Ascent to #3 After 25.8% Weekly Gain – Will Momentum Hold?

July 13, 2025
XRP Price Prediction: Investors on High Alert for July 14, 21, 25 – What’s Next for XRP?

XRP Price Prediction: Investors on High Alert for July 14, 21, 25 – What’s Next for XRP?

July 12, 2025
Bitcoin Price Prediction: Hackers Target .7B Mt. Gox Wallet – Could a Breach Trigger Market Chaos? 

Bitcoin Price Prediction: Hackers Target $8.7B Mt. Gox Wallet – Could a Breach Trigger Market Chaos? 

July 9, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Reddit introduces age verification in the UK ahead of new rules

Reddit introduces age verification in the UK ahead of new rules

July 15, 2025
Whale Wallet Transfers Bitcoin Worth .1B to Galaxy Digital After Long Lull — Top Signal?

Whale Wallet Transfers Bitcoin Worth $2.1B to Galaxy Digital After Long Lull — Top Signal?

July 15, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!