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2mo ago

Jes Staley Challenges FCA Ban Over Epstein Ties in High-Profile Tribunal

The former Barclays CEO seeks to overturn a £1.8 million fine and lifetime ban, arguing he did not mislead regulators about his relationship with Jeffrey Epstein.

Then Barclays' CEO Jes Staley arrives at 10 Downing Street in London, Britain, January 11, 2018. REUTERS/Peter Nicholls/File Photo
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Overview

  • Jes Staley, former Barclays CEO, is contesting the Financial Conduct Authority's (FCA) 2023 decision to ban him from senior financial roles and impose a £1.8 million fine.
  • The FCA alleges Staley approved a misleading 2019 letter claiming he had no close relationship with Jeffrey Epstein and had no contact with him after 2015.
  • Staley's legal team argues the letter's purpose was to confirm that neither he nor Barclays had knowledge of Epstein's criminal activities, not to define the nature of their relationship.
  • Evidence includes over 1,200 emails between Staley and Epstein, some describing their relationship as “deep” and “like family,” and claims of continued contact via Staley's daughter until 2017.
  • The tribunal will feature testimony from high-profile figures, including Bank of England Governor Andrew Bailey, and is expected to conclude in April.