Staley Challenges FCA Ban, Claims Barclays Aware of Epstein Ties

Jes Staley's legal challenge against the UK's Financial Conduct Authority (FCA) centers on allegations that he misled Barclays regarding his relationship with Jeffrey Epstein just before becoming the bank's CEO. Testimony from former FCA director Jonathan Davidson revealed that Barclays chairman Nigel Higgins assured regulators that Staley had 'no particular relationship' with Epstein, leading to a lack of further investigation. However, evidence presented in the tribunal indicated that Staley had maintained contact with Epstein around the time of his appointment, contrary to his assertions. Staley's defense argues that he had communicated the nature of his relationship with Epstein to senior Barclays executives, claiming the case against him is flawed. The FCA's investigation highlighted discrepancies in Staley's communications, including a statement that he had 'few so profound' friendships as that with Epstein. This two-week hearing is expected to feature testimonies from key figures, including Barclays' chairman and Bank of England governor Andrew Bailey, as Staley appeals against a £1.8 million fine and lifetime ban from senior roles in the financial sector.