The U.K. Financial Conduct Authority and Prudential Regulation Authority have formally questioned Barclays Plc CEO Jes Staley regarding his attempt to identify a whistleblower in 2016, Sky News reported Aug. 1, citing sources.
Staley was questioned by the regulators within weeks of four former Barclays executives, including ex-CEO John Varley, being charged by the U.K. Serious Fraud Office for conspiracy to commit fraud and the provision of unlawful financial assistance relating to the bank's controversial capital increase in 2008.
The meetings with Staley are understood to be a crucial element of the investigation carried out by the FCA and PRA into the whistleblower identification scandal, with both authorities looking to complete their probe later in 2017, according to Sky News.
It emerged in April that Staley had attempted to identify the author of a letter that the bank received in June 2016 raising concerns about a senior executive recruited earlier that year. Staley was then put under regulatory investigation and subject to a significant pay cut, once various probes were completed.
However, Barclays shareholders voted overwhelmingly to reappoint Staley to the lender's board at its May 10 annual general meeting, despite grilling him over his involvement in the affair.
The bank recently reported a second-quarter loss attributable to ordinary equity holders of the parent of £1.40 billion, compared with a profit of £677 million in the second quarter of 2016.