Even regulators can sometimes fail to see the wood for the trees. In highlighting Mr Staley’s conflict of interest when he became aware of the whistleblower’s letter against an employee he had hired, the regulators barely scratched the surface of a wider issue. It was not just his failure to recognise that it was his conflict… Read more »
Well, the first FCA/PRA enforcement decision against a senior manager – a CEO, no less (Barclays’ CEO, Jes Staley) – is out and can be read here. Mr Staley is fined – a total of £642,430 – and Barclays has also announced that his bonus has been reduced by £500,000. All very aggravating for Mr Staley, no… Read more »
According to David Kynaston’s history of the Bank of England (Till Time’s Last Stand), financial crises of one sort or another seem to occur at roughly 10-year intervals and, usually, in the autumn. Oh dear! Let’s hope then all the lessons of the last crisis have been properly learnt. After all, as a famous financial… Read more »