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The UK regulator has finalised its ban on Jes Staley holding any senior management roles in the financial services industry following a court ruling that the former Barclays chief executive had misled the watchdog about his links to the late sex offender Jeffrey Epstein.
The Financial Conduct Authority said on Friday that it had issued the ‘final notice’ — the last stage of a regulatory action — earlier this week against the former Barclays boss after Staley did not lodge an appeal against last month’s court decision within the time limit.
The regulator did, however, lower the initial fine of £1.8mn against Staley by almost 40 per cent to £1.1mn in the final notice, in line with the court ruling, to reflect the fact that Barclays had not allowed him to receive deferred shares to which he was entitled.
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In a judgment handed down in London by the Upper Tribunal at the end of June, Judge Timothy Herrington said Staley’s behaviour represented a “serious failure of judgment” and that he had “acted without integrity” by approving a misleading letter from the bank to the FCA that claimed he did not have a close relationship with Epstein, a convicted paedophile.
“We issued a Final Notice on 23 July 2025 following the Upper Tribunal’s decision of 26 June 2025 which dismissed Mr Staley’s reference and the expiry of the time for Mr Staley to seek permission to appeal against the decision on 10 July 2025,” the FCA said in a statement.
A lawyer for Staley did not immediately respond to a request for comment on the final notice.
