Advertise your job vacancies

Subscribe & Follow

Interviews

Barclays, its CEO probed over whistleblower programme

11 Apr 2017

LONDON - Barclays and its CEO Jes Staley are under investigation after he attempted to uncover the identity of a whistleblower within the British financial giant, the bank said.

In a statement, Barclays said the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have "commenced investigations into Jes Staley, as to his senior manager responsibilities relating to Barclays whistleblowing programme, and Barclays Bank."

Jes Staley, CEO: Barclays

The board said it had accepted Staley's explanation that he didn't know that the bank was not allowed to try and identify the author of a whistleblowing letter sent in 2016.

"The board has concluded, that Mr Staley honestly, but mistakenly, believed that it was permissible to identify the author of the letter," it said.

The bank vowed to "cooperate fully" with the FCA and PRA investigations and said that "a very significant compensation adjustment" will be made to Staley's pay packet this year.

Staley said he had apologised to the Barclays board and accepted its findings.

"Our whistleblowing process is one of the most important means by which we protect our culture and values at Barclays and I certainly want to ensure that all colleagues, and others who may utilise it, understand the criticality which I attach to it," he said.

Source: AFP

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za