Barclays boss fined more than £640,000 in whistleblowing case

For 'serious errors of judgement'

Beth Brearley
clock • 2 min read

The FCA and the PRA have jointly fined Barclays Group chief executive James Staley £642,430 for breaching individual conduct rules when he tried to identify the author of an anonymous letter to the bank in 2016.

In the first case brought by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) under the Senior Managers & Certification Regime, the regulators also stipulated Barclays must submit an annual report detailing how it handles whistleblowing, with personal statements required from senior managers responsible for the relevant systems and controls. These measures, which apply to all cases until the end of 2020, are the first of their kind applied to a regulated firm in relation to whistleblowing. Staley attempted to identify the author of an anonymous lette...

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