A UK tribunal upheld former Barclays CEO Jes Staley's ban from senior financial positions due to misleading disclosures about his relationship with Jeffrey Epstein. The ruling emphasized that Staley failed to fully disclose the nature of this relationship, which led to serious misconduct. While acknowledging Staley's achievements at Barclays, the court asserted that these do not excuse his actions. Additionally, the Financial Conduct Authority fined Staley £1.8 million for similar misleading conduct. The tribunal reduced his penalty to £1.1 million after reviewing his case.
"The loss of his long-standing career is an inevitable consequence of that conduct."
"We have noted Mr Staley's achievements as Chief Executive of Barclays, but in our view these do not diminish the seriousness of the misconduct."
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