Big Trouble

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Barclays chief executive, Jes Staley has the full confidence of the Board, The Bank said,

Barclays chief Jes Staley , said he was "deeply its connection with sex-offender Jeffrey Epstein regrets".

His comments come after Barclays revealed that the UK Supervisory authorities, The Chief executive's connections with the disgraced financier investigate.

Mr. Staley added that it is in contact with Epstein, died in New York the prison-cell last year, seven years after his conviction.

Barclays , said Mr. Staley has the "full confidence" of the Board.

"It is very well known, I had said a professional relationship with Jeffrey Epstein ," Mr. Staley told reporters on Thursday. "It goes back to the year 2000, when I was asked to run the JP Morgan private bank, and he was already a customer, as I at the private bank.

"The Relationship was maintained, during my time at JP Morgan, But when I left JP Morgan, The Relationship tapers off significantly. Of course, I thought that I knew him well, and I don't. Sure, in hindsight with what we know today, is, I regret deeply that a relationship with Jeffrey. "

Epstein died in his prison last August after being charged with sex-trafficking of underage girls. It came More Than a decade after his conviction for soliciting of prostitution of minors, for which he was registered as a sex offender.

The probe by the Financial Conduct Authority and the Prudential Regulation Authority will focus on Mr. Staley's "characterization of the society of his relations" with Epstein.

The Financial Conduct Authority supervising Bad Behaviour in The City , while the Prudential Regulation Authority in the financial stability.

the Fresh beat

In a statement to the stock exchange, Barclays said: "As widely reported, earlier in his career, Mr. Staley is a professional relationship with Mr. Epstein develops. In the summer of 2019, in the light of renewed media interest in The Relationship , Mr. Staley volunteer and gave to certain executives, and The Chairman , a Declaration of his relationship with Mr Epstein. "

Barclays added that Mr Staley said he had no contact with Epstein since his current employer in December 2015. The Bank added: "The Relationship between Mr Staley and Mr Epstein was the subject of an inquiry by the Financial Conduct Authority, to which The Company is responding.

"The FCA and the Prudential Regulation Authority then began an investigation, what is the current, in Mr. Staley, a characterization of the society of his relationship with Mr Epstein and the following description of The Relationship in society is the answer to the FCA. "

Separately, in an interview on Bloomberg TV on Thursday, Mr. Staley said that he feels he has been transparent, how he characterizes his relationship with Epstein.

"The Board has to make its own, and I looked back at my transparency, and they came to the conclusion that, in fact, I have a transparent and open with The Bank and with the Board in this process," he said. "But there is a regulatory process is underway, and we let it run it's course. "

The news will expose a fresh blow for Mr. Staley, who is trying to rebuild to be his image, to be punished for the attempt, the identity of the whistleblower at Barclays .

Epstein was awaiting trial on sex-trade costs when he was found dead in his cell on the 10th of August

The Bank was fined $15 million (£11. 6m) in the United States, and Mr. Staley was a fine of £642,430 in the UK for violating the rules by trying to, who is all set concerns about an executive, Mr. Staley.

The Bank received two letters in 2016, criticized the decision and the concerns about the executive experience. Instead of handed over to The Bank the investigations team, one of The Letters was distributed, in the case of executives, including Mr. Staley.

Barclays will also be bonus of up to £500,000 cut.

In another embarrassing episode in the year 2017, Mr Staley Mail prank fell for an E -, if a disgruntled customer claimed his boss at the time, the former Chairman, John Mcfarlane .

Mr Staley exchanged several E-Mails with the scammers, the a Gmail E-Mail address. Under his leadership, have lost shares of The Bank , around 25% of their value.

The stock gave up More Than 3% in early trading on Thursday as The Bank reported that pre-tax profits for the year jumped by 25% to £4. 4bn.

to Higher sales and lower costs helped profits, The Bank said, especially in International Business .

It is hardly surprising that Jes Staley had business ties to Jeffrey Epstein Mr Staley ran the private wealth division of JP Morgan, one of America's largest banks for several years, in search of private investments of the rich Americans.

This is exactly The Business in which Mr. Epstein is a great player, and the New York Times has reported that Mr Staley was one of his most important contacts, with some of The Deceased financier of large customers, according to JP Morgan.

This Morning , Barclays said in a communication to the stock exchange that Mr. Staley had said to volunteer information about this relationship, the Barclays board But that the Financial Conduct Authority and the Prudential Regulation Authority, the UK, the two main financial watchdogs, were now looking on exactly what he is.

The Key word in Barclays ' statement, the investigation, how The Relationship was "marked" - which concludes that The Investigators want to find out whether Mr Staley and Barclays gave a very accurate picture.

This does not necessarily mean Big Trouble for Mr. Staley, and the Barclays Board has to him a question of trust. Regulatory authorities, however, take a dim view of The Bank bosses who do not play ball from the beginning, and Mr. Staley has scratched the back of his booklet.

barclays, companies, jeffrey epstein

Source of news: bbc.com