Daily Management Review

C.E.O of Barclays Faces Penalty For ‘Breaching Conduct Rules’


05/11/2018


The probe into breaking rules by Barclay’s C.E.O is a whistleblower which calls for a fine by the regulators as a punishment.



The chief executive officer of Barclays, Chief Executive Jes Staley has been fined by the regulators of Britain, whereby Staley has been subjected to pay a sum of “642,430 pounds” for “breaching conduct rules” through the attempt of identifying the sender of the letter which criticised an employee Barclays.
 
The fine has been imposed by the “Financial Conduct Authority and the Prudential Regulation Authority”, reports Reuters, while the fine has granted with a thirty percent discount as Staley agreed with the charges and cooperated for settling the amount “at an early stage”.
 
According to the regulators, the fine only represents 10% of Staley’s total “pay package”, while “some insides” feared that the C.E.O, being the first sitting chief executive of a major bank facing a penalty of the kind, could pay with “his job”. However, Barclays did not comment immediately on the matter.
 
 
References:
reuters.com







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