{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Barclays boss reprimanded over whistleblower probe' data-url='/boclips/videos/6878e7a4860c8396ee54d52f' data-video-url='/boclips/videos/6878e7a4860c8396ee54d52f' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nBarclays boss reprimanded over whistleblower probe\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca href=\"/search?publisher_ids%5B%5D=\"\u003e/search?publisher_ids%5B%5D=\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eBritish financial regulators have said they are investigating Barclays Chief Executive Jes Staley and the bank itself over a whistleblowing incident. The UK-based bank revealed that Staley had twice tried to identify an employee who had...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eBritish financial regulators have said they are investigating Barclays Chief Executive Jes Staley and the bank itself over a whistleblowing incident.\u003cbr\u003e\u003cbr\u003e The UK-based bank revealed that Staley had twice tried to identify an employee who had raised concerns about an executive hired by Barclays who had previously worked with Staley at JPMorgan Chase.\u003cbr\u003e\u003cbr\u003e The bank said it had formally reprimanded its top boss for what it called a serious offence. \u003cbr\u003e\u003cbr\u003e His pay will be “very significantly” cut, but the bank said it intends to support his reappointment at its annual general meeting next month.\u003cbr\u003e\u003cbr\u003e “I have apologised to the Barclays Board, and accepted its conclusion that my personal actions in this matter were errors on my part,” Staley said.\u003cbr\u003e\u003cbr\u003e The investigation\u003cbr\u003e\u003cbr\u003e The investigation relates to anonymous letters sent in June 2016 to members of the board and a senior executive that raised concerns about a senior employee who had been recruited by Barclays earlier that year, the bank said.\u003cbr\u003e\u003cbr\u003e Barclays did not name that executive but a person familiar with the matter told the Reuters news agency the letters were about Tim Main, who Staley worked with at JP Morgan. Main was hired in June 2016 as chairman of Barclays’ financial institutions group, based in New York.\u003cbr\u003e\u003cbr\u003e “Amongst other issues, the letters raised concerns of a personal nature about the senior employee, Mr Staley’s knowledge of and role in dealing with those issues at a previous employer, and the appropriateness of the recruitment process followed on this occasion by Barclays,” Barclays said in its statement.\u003cbr\u003e\u003cbr\u003e What Staley did\u003cbr\u003e\u003cbr\u003e After being given a copy of the first letter and made aware of the second, Staley asked the bank’s group information security (GIS) team attempt to identify the author or authors of the letters.\u003cbr\u003e\u003cbr\u003e “Mr Staley considered that the letters were an unfair personal attack on the senior employee,” the bank said.\u003cbr\u003e\u003cbr\u003e Staley was told it was not appropriate to try to identify the author or authors. But in July 2016 he asked if the issue had been cleared. Following this, he had an “honestly held, but mistaken, belief was that he had clearance to identify the author of one of the letters”, the bank said.\u003cbr\u003e\u003cbr\u003e Scandals\u003cbr\u003e\u003cbr\u003e The issue puts Barclays’ culture under more scrutiny after a number of scandals at the bank in recent years.\u003cbr\u003e\u003cbr\u003e “I am personally very disappointed and apologetic that this situation has occurred, particularly as we strive to operate to the highest possible ethical standards,” Barclays chairman John McFarlane said.\u003cbr\u003e\u003cbr\u003e A member of the British parliament’s Treasury select committee, Labour Party MP John Mann, said Staley should resign. \u003cbr\u003e\u003cbr\u003e MP calls #jesstaley to leave #Barclays for mistreating #\u003ca \u003ca href='https://t.co/jVxcP0K089' target='_blank' rel='nofollow'\u003ehref=\"\u003c/a\u003e\" rel=\"nofollow\"\u003eWhistleblowing\u003c/a\u003e #hbos #13ReasonsWhy #putthecuffsonme #US #uk pic.twitter.com/LPTsQHt2Sm— EFG Action Group (@EFG_Support) April 10, 2017\u003cbr\u003e\u003cbr\u003e Fired\u003cbr\u003e\u003cbr\u003e Richard Boath, a senior former Barclays investment banker, last year claimed he was fired from the bank for whistle blowing.\u003cbr\u003e\u003cbr\u003e Boath said in court he was dismissed as a “direct response” of what he told the Serious Fraud Office during an investigation into the bank over its fundraising from Gulf investors during the financial crisis. \u003cbr\u003e\u003cbr\u003e He is suing the bank at a London employment tribunal in a pay dispute and for unfair dismissal due to whistle blowing. \u003cbr\u003e\u003cbr\u003e The only mention of ethics in Staley’s goals at Barclays was in the context of instilling a “performance \u003ca \u003ca href='https://t.co/Pz9NxW54iP' target='_blank' rel='nofollow'\u003ehref=\"\u003c/a\u003e\" rel=\"nofollow\"\u003eethic.”\u003c/a\u003e— efc Students (@efc_Students) April 10, 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