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Friday, May 11, 2018

CEO of Barclays Fined £642K By Regulators

Regulators have fined Barclays CEO James Staley £642,430 for failures in his handling of a whistelblower at Barclays.

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority said he had "failed to act with due skill, care and diligence in the way he acted in response to an anonymous letter received by Barclays in June 2016".

Barclays must also now report annually to the regulators detailing how it handles whistleblowing, with "personal attestations" required from those responsible for the relevant systems and controls.

FYI:

October 2015 Barclays said Staley's annual pay will consist of a salary of 1.2 million pounds, a role-based “allowance” of 1.15 million pounds in shares, a cash allowance of up to 400,000 pounds and up to 5.5 million pounds in annual bonus.

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