Barclays chief acted without "due skill and care"

The CEO of Barclays is being fined for trying to unmask an anonymous whistleblower

The CEO of Barclays is being fined for trying to unmask an anonymous whistleblower

The regulators allege Staley's actions represented a breach of Individual Conduct Rule 2, which require people to act with due skill, care and diligence.

"The Barclays board continues to have unanimous confidence in Mr Staley and continues to recommend his re-election as a director at the Barclays Annual General Meeting on 1 May 2018".

The British bank, which in April past year said it had reprimanded Staley and would cut his bonus for his attempts to identify the whistleblower, will be required to report to the FCA and PRA on aspects of their whistleblowing programmes.

Regulators launched their probe into Staley last April.

Barclays's own investigation had found Mr Staley "honestly, but mistakenly, believed" his actions were permitted, which was why they didn't fire him.

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"Barclays continues to provide information to, and cooperate with, authorities in the United States with respect to this matter", it added.

This week, before the outcome of the regulators' investigations became public, an influential advisory group - Institutional Shareholder Services (ISS) - called for a vote in favour of Staley at next month's AGM "even though it is not without concern for shareholders".

Barclays PLC (LON:BARC) (BARC.L) has announced today that the FCA and PRA have concluded their investigations into CEO Jes Staley and the bank. As a result, Barclays is unable to comment further on the warning notices or any discussions with the FCA and PRA. New York's Department of Financial Services was also looking into Staley's behaviour.

After learning about the letters, Mr Staley made two attempts to discover who wrote them, despite being informed that it was inappropriate for him to do so after his first try. Main had previously worked with Staley at the USA investment bank JP Morgan.

As part of the investigation, the FCA interviewed officials including Mike Ashley, the board member who supervises whistle-blowing complaints, chief operating officer Paul Compton, former company secretary Lawrence Dickinson and Staley's chief of staff, Timothy Karpoff.

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