Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Financial servicesLatest NewsWhistleblowing

Barclays CEO faces fines after whistleblowing probe

by Adam McCulloch 20 Apr 2018
by Adam McCulloch 20 Apr 2018 Jes Staley arrives for a meeting of financial services leaders with the prime minister in Downing Street in January 2018. Photo: FACUNDO ARRIZABALAGA/EPA-EFE/REX/Shutterstock
Jes Staley arrives for a meeting of financial services leaders with the prime minister in Downing Street in January 2018. Photo: FACUNDO ARRIZABALAGA/EPA-EFE/REX/Shutterstock

City regulators are set to fine Barclays chief executive Jes Staley over his investigation of a whistleblower who breached their rules of conduct.

The Finance Conduct Authority and the Prudential Regulatory Authority began their probe into Staley’s conduct a year ago and will each impose a fine on him. There could also be one from Barclays itself. In total it is thought the fines could run into seven figures.

Whistleblowing advice

Whistleblowing policy

Whistleblowing: protecting the business

Public interest disclosures

Barclays said that the regulators were not alleging that Staley acted with a lack of integrity or that he lacks fitness to continue as chief executive of the bank.

Staley had previously apologised for his actions, telling investors in 2017 “I made a mistake. I was trying to protect a vulnerable colleague. I should have left the organisation to handle it.” He has been given time to appeal.

The origins of the case go back to 2016 when a letter was anonymously sent to the Barclays board containing concerns of a personal nature about a recently recruited senior employee and also claims that the employee’s selection process was unfair.

Staley asked Barclays’ internal investigation team to try to identify the author of the letter, which he considered to constitute an unfair personal attack. In an email seen by The Guardian, Staley accused the letter writer of harassment and of trying to “maliciously smear” the senior employee, a friend and former colleague of Staley’s from his previous roles at JP Morgan.

Although Barclays is not facing any sanctions from regulators, the bank has stated: “However, [the regulators] have proposed that each of Barclays Bank plc and Barclays Bank UK plc will be subject to requirements to report to the FCA and PRA on certain aspects of their whistleblowing programmes.”

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

The Financial Conduct Authority and the Prudential Regulation Authority said: “The FCA and the PRA have now concluded investigations into the CEO of Barclays and Barclays Bank plc. We have issued draft warning notices in respect to the CEO and will announce the outcome once this issue has reached a conclusion.”

The board of Barclays has already said Staley may lose a significant chunk of his £1.3m bonus for 2016, the year in question. Staley has 28 days to respond to the warning notices issued by the two regulators.

Adam McCulloch

Adam McCulloch first worked for Personnel Today magazine in the early 1990s as a sub editor. He rejoined Personnel Today as a writer in 2017, covering all aspects of HR but with a special interest in diversity, social mobility and industrial relations. He has ventured beyond the HR realm to work as a freelance writer and production editor in sectors including travel (The Guardian), aviation (Flight International), agriculture (Farmers' Weekly), music (Jazzwise), theatre (The Stage) and social work (Community Care). He is also the author of KentWalksNearLondon. Adam first became interested in industrial relations after witnessing an exchange between Arthur Scargill and National Coal Board chairman Ian McGregor in 1984, while working as a temp in facilities at the NCB, carrying extra chairs into a conference room!

previous post
What does going into administration really mean for employees?
next post
Almost half of IT employees feel stressed out

You may also like

Ministers loosen fire and rehire proposals in Employment...

10 Jul 2025

£188k tribunal award for director sacked after cardiac...

10 Jul 2025

It’s no secret – parity in the workplace...

10 Jul 2025

Firms’ salary secrecy means ‘they lose out on...

10 Jul 2025

Court of Appeal rules that Ryanair agency pilot...

9 Jul 2025

Teacher recruitment goals ‘lack coherent plan’

9 Jul 2025

Gregg Wallace sacked amid fresh misconduct allegations

9 Jul 2025

Doctors vote for return to strike action

8 Jul 2025

‘Frustrating’ that NHS Plan has overlooked OH, warns...

8 Jul 2025

Employment Rights Bill set to ban employer NDAs

8 Jul 2025

  • Empower and engage for the future: A revolution in talent development (webinar) WEBINAR | As organisations strive...Read more
  • Empowering working parents and productivity during the summer holidays SPONSORED | Businesses play a...Read more
  • AI is here. Your workforce should be ready. SPONSORED | From content creation...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+