April 20, 2018 / 6:30 AM / 3 months ago

BRIEF-Barclays Says FCA, PRA Propose CEO Staley Pays Fine

April 20 (Reuters) - Barclays PLC:

* FCA AND PRA CONCLUDE INVESTIGATIONS INTO JES STALEY AND BARCLAYS

* FCA PRA NOT ALLEGING STALEY LACKS FITNESS AND PROPRIETY TO CONTINUE TO PERFORM HIS ROLE AS GROUP CHIEF EXECUTIVE OFFICER

* FCA AND PRA HAVE RECENTLY ISSUED CONFIDENTIAL DRAFT WARNING NOTICES SETTING OUT THEIR REASONS FOR PROPOSING ENFORCEMENT ACTIONS

* FCA AND PRA ARE ALLEGING THAT MR STALEY’S ACTIONS IN RELATION TO THIS MATTER REPRESENTED A BREACH OF INDIVIDUAL CONDUCT RULE

* FCA AND PRA HAVE PROPOSED THAT HE PAY A FINANCIAL PENALTY

* FCA AND PRA ARE NOT ALLEGING THAT STALEY ACTED WITH A LACK OF INTEGRITY

* STALEY NOW HAS A PERIOD DURING WHICH HE MAY REVIEW DRAFT WARNING NOTICES AND MAKE REPRESENTATIONS TO THESE AUTHORITIES IN RELATION TO THEIR CONTENT

* BARCLAYS IS NOT IN A POSITION TO COMMENT FURTHER ON DRAFT WARNING NOTICES, ANY DISCUSSIONS WITH FCA AND PRA OR TIMING OF FINAL OUTCOME OF THIS MATTER

* BARCLAYS BOARD CONTINUES TO BE SATISFIED WITH ITS CONCLUSIONS AS SET OUT IN APRIL 2017 ANNOUNCEMENT

* BOARD CONTINUES TO HAVE UNANIMOUS CONFIDENCE IN MR STALEY AND CONTINUES TO RECOMMEND HIS RE-ELECTION AS A DIRECTOR AT BARCLAYS AGM

* BARCLAYS BOARD WILL DETERMINE WHAT ADJUSTMENT TO MR STALEY’ S COMPENSATION IS APPROPRIATE ONCE FCA AND PRA PROCESSES HAVE CONCLUDED

* FCA AND PRA HAVE CONCLUDED THAT THEY WILL NOT TAKE ENFORCEMENT ACTION IN RESPECT OF THIS MATTER

* FCA,PRA PROPOSED THAT BARCLAYS BANK PLC, BARCLAYS BANK UK PLC WILL BE SUBJECT TO REQUIREMENTS TO REPORT TO FCA,PRA ON CERTAIN ASPECTS OF WHISTLEBLOWING PROGRAMMES

* BARCLAYS CONTINUES TO PROVIDE INFORMATION TO, AND COOPERATE WITH, AUTHORITIES IN US WITH RESPECT TO THIS MATTER Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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