The United Kingdom’s Financial Behavior Authority (FCA) issued a final notice to James Edward Staley, a former Barclays CEO.
The Authority of Financial Behavior:
- (1) I impose on Mr James Edward Staley, in accordance with Article 66 of the Law on Financial Services and Markets of 2000 (“ACT”), a financial penalty of £ 1.107.306.92. and
- (2) Makes an order in force from the date of this Communication, in accordance with Article 56 of the Law, prohibiting Mr Staley from performing any higher administration or significant influence in relation to any regulated activity carried out by an authorized person, free from the person or exemption.
In a statement issued to Mr Staley on May 30, 2023, the Authority decided to impose a financial penalty of £ 1,812,000 on Mr Staley, as he considered that he had not complied with the Code of Authority (“ICR”) of the Code of Authority (“Cocon”) which is required to be open and cooperative. of Coconut, who demanded him to reveal any information about which the Authority or PRA would reasonably wait for the alert, recklessly approved by a letter sent by Barclays at the beginning of October 08, 2019 (the “Letter”) containing two misleading statements, about the nature of his relationship with his relationship with his relationship with his relationship. them.
The Authority also decided to order Mr Staley to perform any higher administration or significant influence in relation to any regulated activity carried out by an authorized person, free from the person or free from a professional enterprise.
Mr Staley reported the matter to the Supreme Court (tax chamber and chancery). By decision published on June 26, 2025, the Court ordered the power to impose on Mr Staley an economic penalty of £ 1,107,306.92 in accordance with section 66 (3) (a) of the act for non -compliance with the requirements of ICR 1, ICR 3 and SMCR 4 in the execution of its operations. of him.
The court also dismissed the report on the Authority’s ruling to submit a ban on Mr Staley to prohibit him from performing higher administration and significant influence functions.
The final notice stipulates that the financial penalty must be fully paid by Mr Staley at the beginning until 06 August 2025.
If all or any of the financial penalties are pending on 06 August 2025, the Authority may regain the amount due as a debt owed by Mr Staley and because of the power.