Ex-Barclays Bank boss Staley banned from senior UK finance roles over misleading Epstein statements

abcnews.go.com:

Britain’s financial regulator has fined the American former chief executive of Barclays, Jes Staley, 1.8 million pounds — about $2.2 million — and banned him from holding senior financial roles for misleading it over the nature of his relationship with...

LONDON — Britain's financial regulator said on Thursday that former Barclays Bank chief executive Jes Staley has been fined 1.8 million pounds ($2.2 million) and banned from holding senior financial roles in the United Kingdom for misleading it over the nature of his relationship with the late sex offender Jeffrey Epstein.

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.

But in email messages, Staley described Epstein as one of his “deepest” and “most cherished” friends, according to the regulator. 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.

Staley, 66, stepped down from Barclays in 2021 as criticism over his ties to Epstein, who killed himself in a federal jail in August 2019, a month after his arrest on federal sex trafficking and conspiracy charges

“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.

Staley, she added, “failed to do this.”

As a result, Chambers said it is “right” to prevent him from holding a senior position in the financial services industry.

The FCA’s decision is provisional and Staley, who has previously said he “deeply regrets” his