Barclays CEO to Be Probed Over Whistleblower Investigation

The board concluded that Staley had 'honestly, but mistakenly' believed he could identify the whistleblower.

Author:
Edward Hardy
Publish date:
Apr 10, 2017 5:32 AM EDT

Barclays (BCS) - Get Barclays Plc Report CEO Jes Staley is being probed by the U.K.'s financial watchdogs over an internal investigation into whistleblowing.

Shares pared earlier losses to gain 0.07% changing hands at 215.35 pence, shares have lost 8% over the past three months.

The Financial Conduct Authority and the Prudential Regulation Authority have started investigations into Staley as to his individual conduct and senior manager responsibilities related to the bank's whistleblowing program and an attempt to try to identify a whistleblower. Barclays board has formally reprimanded Staley and a "very significant compensation adjustment" will be made to his variable compensation award.

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