The UK Financial Conduct Authority has banned Jes Staley, former Chief Executive Officer of Barclays, from holding senior positions in financial services firms. The FCA also fined Staley £1.8 million for misleading the regulatory agency regarding his relationship with convicted sex offender Jeffrey Epstein.
"A CEO needs to exercise sound judgement and set an example to staff at their firm," said Therese Chambers, joint Executive Director of Enforcement and Market Oversight at the FCA. "Mr. Staley failed to do this. We consider that he misled both the FCA and the Barclays Board about the nature of his relationship with Mr Epstein."
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