Jurisdiction(s):
United Kingdom

Upper Tribunal Confirms FCA Prohibition Order: Jes Staley Recklessly Misled FCA and Barclays About Close Relationship with Jeffrey Epstein

Published on: 30 June 2025

Published by a Law360 reporter

Legal News

Article summary

A courtroom bid that fell flat has yielded damning conclusions that he misled the Financial Conduct Authority (FCA) and Barclays about the breadth of his association with Epstein over many years, rather than overturning his lifetime ban from employment in financial services for misleading the FCA. In the wake of the Upper Tribunal’s 26 June 2025 decision confirming the FCA’s prohibition on him holding a managerial post in the financial services industry, Law360 examines the seminal findings set out in the judgment...

'A difficult dilemma'

Judge Timothy Herrington, writing for the tribunal, said Staley, 68, had a clear incentive to play down his connection with Epstein, a convicted sex offender whose links had already stained the reputations of numerous business leaders and public officials. In 2019, when news of Epstein’s arrest for sex trafficking broke and focus shifted to his circle, the FCA asked Barclays to detail the nature of Staley’s relationship and when the pair had last been in contact. The tribunal found that Staley faced a difficult dilemma, being set against both Barclays (his employer) and the FCA...

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