Overview

• Jes Staley, former CEO of Barclays, has launched a legal appeal against the Financial Conduct Authority's (FCA) lifetime ban and £1.8 million fine over alleged misleading statements about his ties to Jeffrey Epstein.
• The FCA claims Staley 'recklessly approved' a 2019 letter to the regulator that inaccurately downplayed his relationship with Epstein and misrepresented the timeline of their last contact.
• Central to the case are over 1,200 emails between Staley and Epstein, with the FCA arguing they show a closer relationship than Staley has admitted, including references to Epstein as a 'profound' friend.
• Staley contends the FCA's investigation was prejudiced and asserts that his communications with Epstein were primarily professional and initiated by Epstein after their last direct contact.
• High-profile witnesses, including Bank of England Governor Andrew Bailey and Barclays Chair Nigel Higgins, are expected to testify during the three-week hearing, which will scrutinize Staley's professional conduct and personal connections.