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Therese Chambers of the FCA highlighted Staley’s imprudent approval of a letter denying a close relationship with Epstein. This contradicted email exchanges where Staley referred to Epstein as a cherished friend. The FCA’s provisional decision will also lead Staley to forfeit bonuses and share awards totaling £17.8 million ($21.9 million).
Staley was removed from his position at Barclays in 2021 due to his connections with Epstein. Despite the hefty penalties, Staley retains the right to appeal this decision.
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