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has any connection to the Staley investigation is not clear, but the east London tribunal confirmed the case had been withdrawn after being listed to take place earlier this week.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



Like this

Latest


16 September 2017
General Motors Company (GM) Reaches New 52-Week High
The Company operates in four segments: Automotive, Financial Services, Ford Smart Mobility LLC, and Central Treasury Operations. The firm owned 500,534 shares of the auto manufacturer's stock after buying an additional 40,852 shares during the period.

16 September 2017
Lane Kiffin takes out full-page newspaper ad to thank Wisconsin for hospitality
FAU saw Irma's trajectory and made arrangements to stay north until it was safe to return home to Boca Raton . FAU remained in Wisconsin following their Week 2 clash due to the incoming threat of Hurricane Irma.

16 September 2017
37 killed in twin attacks in southern Iraq
Two suicide bombers then blew themselves up there and inside a nearby restaurant, according to local police. Local officials said the death toll was likely to climb with numerous wounded in a serious condition.

16 September 2017
Tigers give up 17 runs in lose to White Sox Thursday
Eight Detroit Tigers pitchers combined to surrender 25 hits in a 17-7 waxing by the Chicago White Sox at Comerica Park. The Tigers will try again tonight against the White Sox.

15 September 2017
As Democrats announce deal, Trump tweets, DREAMers and advocates react
Bob Casey and other Democrats to enact guarantees to let DACA recipients stay. "The two are not interchangeable", he said. But in order to get the majority of the party on board, Trump is going to have to do a hard sell of the agreement.

15 September 2017
Apple explains what went wrong during its Face ID demo
Face ID protects sensitive information with its True Depth camera system that includes an infrared camera that detects your face. Kuo even put the possibility out there that the gold variant would come to market later than the space gray and silver variants.

15 September 2017
Oprah Winfrey to Make Her 60 Minutes Debut Next Week
She hosted her award-winning talk show for 25 years and in 2009 launched the Oprah Winfrey Network with Discovery Communications . Winfrey collaborating with CBS shouldn't come as a total surprise, as she has a strong relationship with the network.

15 September 2017
Meghan McCain says farewell to Fox News Channel
Conservative commentator and Fox News host Meghan McCain has confirmed she is parting ways with her old network. This landed her the role of contributor with both the Daily Beast and MSNBC.

15 September 2017
Vevo hacked as OurMine releases 3.12TB of internal files
KitGuru Says: This has been an unusual development given that OurMine doesn't typically leak large amounts of data. There was some sensitive information to be found though, including the fire alarm code for the company's offices.

15 September 2017
South Dakota Supreme Court Strikes Down 'Kill-Quill' Law
The state has until December 12, 2017, to file its anticipated cert petition (although an extension to file may be granted). That prompted the Legislature to pass the law with little opposition previous year as a deliberate challenge to several U.S.



Recommended