Economy

Regulators reportedly quiz Barclays chief for second time in whistleblowing probe

Regulators reportedly quiz Barclays chief for second time in whistleblowing probe”

Barclays PLC's (LON:BARC) global head of whistleblowing is reportedly leaving the bank five months after regulators started investigating chief executive Jes Staley for trying to unveil the identity of a whistleblower.

Jonathan Cox, a former police detective inspector, is leaving after dropping an employment case against the bank, according to Reuters.

The detail of the case or if it has any connection to the Staley investigation is not clear, but the east London tribunal confirmed the case had been withdrawn after being listed to take place earlier this week.

The bank refused to comment and Cox's phone went to voicemail but the Financial Times reported that there had been an out-of-court settlement, which prevented either side from discussing the situation.

The FCA and the PRA are investigating Mr Staley's conduct and senior manager responsibilities relating to the lender's whistleblowing programme.

Britain's two financial regulators have been investigating Barclays and Staley for alleged breaches of whistleblowing rules since April after the CEO tried twice to identify an anonymous whistleblower a year ago, despite strict United Kingdom rules created to protect them.

Having been given a copy of the first letter and made aware of the second, Mr Staley initially requested that the Barclays Group Information Security team attempt to identify the authors of the letters as he considered they were an "unfair personal attack" on the employee.

Barclays has already issued the CEO with a formal written reprimand, and may make a "very significant compensation adjustment" to his bonus.

A USA law enforcement agency was called in to assist with the search, although it ultimately proved unsuccessful.



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