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Report: UK FCA to conclude Barclays CEO whistleblowing probe in December

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Report: UK FCA to conclude Barclays CEO whistleblowing probe in December

The U.K. Financial Conduct Authority prolonged its probe into Barclays Plc CEO Jes Staley's attempts to identify a whistleblower in 2016, and now expects to reach a conclusion by December, "people with knowledge of the process" told Bloomberg News.

The new date is two months later than the initial October target indicated to Barclays, according to the people, who also added that it was not clear why the investigation was extended.

The FCA has already questioned Staley twice in the past few months, along with other officials of the lender, including COO Paul Compton and Mike Ashley, who supervises whistleblowing complaints, according to Bloomberg. In September, the lender's global head of whistleblowing, Jonathon Cox, stepped down after dropping an employment lawsuit against the bank.

Despite the regulatory scrutiny, Barclays shareholders voted overwhelmingly to reappoint Staley to the lender's board at its annual general meeting in May. However, he may still have to step down from his position, should the FCA find him unfit to lead a financial institution, according to the Oct. 16 report.