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Guy Wilkes: PRA and FCA Fine Barclays CEO James Staley Over Handling Of Whistleblowing

Posted on 16 May 2018. Source: Lexology

Guy Wilkes: PRA and FCA Fine Barclays CEO James Staley Over Handling Of Whistleblowing

Following a joint FCA and PRA investigation Mr James Staley the CEO of Barclays Group has been fined a total of £642,430 for failing to act with due skill, care and diligence in the way he acted in respect to an anonymous letter received by Barclays in June 2016.  The PRA and FCA imposed identical penalties of £458,000 each on Mr Staley with a 30% discount for settlement.  The PRA and FCA have also agreed special requirements with Barclays whereby Barclays must report annually detailing how it handles whistleblowing, with personal attestations required from those senior managers responsible for the relevant systems and controls.

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