The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have proposed Barclays' group CEO Jes Staley should pay a financial penalty for breaching individual conduct rules when he tried to identify the author of an anonymous letter to the bank in 2016.
As announced in April last year, the FCA and PRA began investigating the chief executive in relation to his actions. These investigations have now concluded with the regulators issuing draft warning notices setting out their reasons for enforcement actions - each have proposed that he pay a financial penalty. A statement from the bank this morning said the Staley's actions were investigated for breaking Individual Conduct Rule 2, the requirement to act with due skill care and diligence. It also pointed out the regulators did not allege he acted with a lack of integrity or lack of fitness...
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