May 11, 2018 / 10:13 AM / 12 days ago

British watchdogs fine Barclays CEO $870,000 for whistleblowing probe

LONDON, May 11 (Reuters) - British regulators said on Friday they had fined Barclays Chief Executive Jes Staley a total of 642,430 pounds ($870,428.41) for breaching conduct rules by attempting to identify who had sent letters criticising a Barclays employee.

The fine by the Financial Conduct Authority and the Prudential Regulation Authority included a 30 percent discount for Staley agreeing at an early stage to settle.

Regulators said the fine is only 10 percent of his overall pay package. While it draws a line under an episode some insiders had feared might cost him his job, Staley is the first sitting CEO of a major bank to face such a penalty.

Barclays had no immediate comment.

$1 = 0.7381 pounds Reporting By Lawrence White and Huw Jones; editing by Emma Rumney

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below