Former Barclays Bank CEO Jes Staley has been fined $2.2 million for misleading the Financial Conduct Authority (FCA) over the nature of his relationship with Jeffrey Epstein. He is also banned from holding senior financial roles in the U.K.
The banking giant Barclays had suspended all of Staley’s deferred bonuses and long-term share awards while the watchdog investigated. Barclays said that following the FCA’s decision, Staley was ineligible for bonuses and share awards totaling 21.9 million
The Financial Conduct Authority said in a statement that Staley, a U.S. citizen, had “recklessly approved” a letter sent by Barclays to the FCA, which claimed the bank’s former boss did not have a close relationship with Epstein. Staley has said that he had no contact with Epstein once he joined Barclays
According to the regulator, Staley described Epstein as one of his “deepest” and “most cherished” friends in Email. Staley had acted as a private banker to the disgraced financier during his previous time at JP Morgan, where he worked for more than 30 years.