Organisations and charity groups that have been behind the revelations by a Barclays bank employee over the firms chief executive Jes Staley and his decision to hire a colleague who worked with Mr Staley in the past, called Tim Main – which resulted in Staley undertaking an inquiry to discover the whistleblower.
The actions by Staley have lead to the Financial Conduct Authority to conduct an investigation into Mr Staley, with the possibility of Staley receiving a massive pay-cut.
An article in The Guardian had more news on the story.
Jes Staley is being investigated by financial regulators and faces a significant cut to his pay after admitting trying to unmask a whistleblower who made allegations about a long-term associate he had brought to the bank.
Public Concern at Work (PCaW), a charity for whistleblowers, said there was “much work to be done” while GoodCorporation said the Barclays saga would be a “real test” for the Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority.
There are strict regulations in the financial services industry about encouraging and protecting whistleblowers. This includes the senior managers and certification regime, which is aimed at improving individual accountability within the financial services industry.