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The UK Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA) have confirmed they are investigating Barclays CEO Jes Staley without revealing further details.
The statement comes amid reports that the UK regulators are investigating Staley’s relationship with the convicted sex offender Jeffrey Epstein, who died in 2019.
In light of the scandal, the UK bank announced Staley’s resignation, but added that “the Board is disappointed at this outcome”, and that “Staley has run the Barclays Group successfully since December 2015”.
Barclays also said that “the investigation makes no findings that Mr Staley saw, or was aware of, any of Mr Epstein's alleged crimes, which was the central question underpinning Barclays' support for Mr Staley following the arrest of Mr Epstein in the summer of 2019”.
The full joint statement issued by the FCA and Bank of England simply reads.
“The Prudential Regulation Authority and Financial Conduct Authority have issued the following joint statement in relation to the Jes Staley investigation:
“The FCA and PRA do not comment on ongoing investigations or regulatory proceedings beyond confirming the regulatory actions as detailed in the firm’s announcement."”
