Tribunal forces FCA U-turn on report-shredding ex-Barclays Wealth boss ban

Shredded document in 2013

Beth Brearley
clock • 2 min read

The Financial Conduct Authority (FCA) has dropped its intention to place a lifetime ban on former chief operating officer at Barclays Wealth and Investment Management Andrew Tinney, who shredded a report on business' culture that described it as "out of hand".

In 2013 Tinney was forced to quit the firm amid allegations that he had suppressed a "wealth cultural audit report" on Barclays Wealth's US branch, Barclays Wealth Americas, which described it as "out of control". He was also found to have misled the FCA and other regulatory bodies, forcing the former to publish a statement on his misconduct and impose a lifetime ban. Tinney brought his case to the Upper Tribunal, which has subsequently held up the charges of acting without integrity and misleading to regulatory bodies in the wake of the scandal, but did not uphold the FCA's decision ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Data-driven or anecdotal? Examining FCA Consumer Duty board reports

Data-driven or anecdotal? Examining FCA Consumer Duty board reports

'Data is not a by-product of systems; it is a core governance asset'

Chris Davies
clock 27 March 2026 • 6 min read
FCA 'consistently behind the curve' on British Steel – Complaints Commissioner

FCA 'consistently behind the curve' on British Steel – Complaints Commissioner

Regulator hits back at Complaints Commissioner’s final report

Jenna Brown
clock 26 March 2026 • 3 min read
Advisers warned against 'cost-saving' exercises as FCA proposes ditching annual suitability requirement

Advisers warned against 'cost-saving' exercises as FCA proposes ditching annual suitability requirement

Changes offer an opportunity for more ‘meaningful’ advice

Sophia Panayi
clock 26 March 2026 • 4 min read