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Jes Staley did not cancel a decision by the Financial Conduct Authority according to which he “recklessly” induced the regulator about his links with the sexual offender, sentenced Jeffrey Epstein, in a major setback to the former general manager of Barclays.
In a judgment rendered Thursday by the Superior Court, judge Timothy Herrington said that Staley had not fully disclosed in Barclays the nature of his relationship with the dead financier.
“We noted Mr. Staley’s achievements as CEO of Barclays, but in our opinion, they do not decrease the gravity of misconduct,” said judgment. “The loss of his long -standing career is an inevitable consequence of this conduct.”
But the court also ordered that the fine of 1.8 million pounds sterling imposed in Staley by the regulator in 2023 is reduced to 1.1 million pounds sterling.
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