Economics
Barclays CEO Survives Whistle-Blowing Probe With Only a Fine
- Staley’s financial penalty said to be up to 2 million pounds
- Board continues to have “unanimous confidence” in its CEO
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Barclays Plc Chief Executive Officer Jes Staley survived a year-long regulatory probe into his attempts to unmask a whistle-blower, escaping with a fine instead of losing his job.
While the U.K. 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.