Barclays CEO Jes Staley will liable not pay more than $2 million in total fines to UK regulators for his attempt to stumble upon the identity of a whistleblower, according to people familiar with the situation.
The Fiscal Conduct Authority and Prudential Regulation Authority have concluded that Staley’s creations to find out who wrote an anonymous letter represented a breach of individual operation, Barclays said Friday.
“The FCA and PRA are not alleging that he acted with a deficiency of integrity or that he lacks fitness and propriety to continue to perform his situation as Group Chief Executive Officer,” the company said Friday, totaling its board “continues to have unanimous confidence in Mr. Staley.”
Staley obligation pay a financial penalty, while the company itself received no punishment, agreeing to a release.
In late March, Barclays agreed to pay just $2 billion in go its case around mortgage-backed securities with the U.S. Justice Department.
In April 2017, Barclays signaled UK regulators were investigating Staley and the bank after the executive essayed to discover who wrote a letter that “raised concerns of a personal description” about a senior employee.
Barclays is scheduled to report earnings before of the U.S. market open on Thursday, April 26.
— With reporting by CNBC’s Wilfred Frost.