Barclays has announced Chief Executive Jes Staley is being investigated by two U.K. regulators regarding his individual conduct after he attempted to identify a whistleblower at the bank in 2016.
The Financial Conduct Authority (FCA) and the Prudential Conduct Authority (PRA) have opened an investigation into both Staley and Barclays's actions when pursuing the author of a letter believed to have originated from a whistleblower.
"Our whistleblowing process is one of the most important means by which we protect our culture and values at Barclays and I certainly want to ensure that all colleagues, and others who may
The Barclays Board found Staley had "honestly, but mistakenly" sought the identity of the letter's author without appropriate governance. The whistleblower was not identified by the Barclays boss and the board has now accepted his apology.
Staley is due to receive a written warning from the banks' board and can expect a "very significant" reduction
Barclays shares were slightly lower shortly after Monday's open, down 0.5 percent.