Barclays Bank will be hoping that the whole Jeffrey Epstein saga has come to an end following the Final Notice which has been issued by the FCA against Jes Staley. Often with regulatory findings there is subsequent civil litigation. In this case there is a class action in California against Barclays bank relating to the Jes Staley/ Jeffrey Epstein relationship. A summary of the FCA findings against Jes Staley are set out below.

The Upper Tribunal (Tax and Chancery Chamber) issued its judgment on 26 June 2025, dismissing Mr Staley’s appeal against the original Decision Notice issued in May 2023, and upheld the regulator’s findings that he breached several Senior Manager rules for his conduct concerning Jeffrey Epstein .
As a consequence, the FCA issued its Final Notice on 23 July 2025, formally implementing:
A prohibition order preventing Mr Staley from holding any senior management or significant influence function in any UK-authorized financial services entity .
A reduced financial penalty of £1,107,306.92, down from the original £1.8 million—reflecting forfeited Barclays shares he lost due to the controversy .

He has been given until 6 August 2025 to pay this fine .
Mr Staley was found to have recklessly approved a letter, sent on 8 October 2019, containing two key misleading assertions:
That his relationship with Jeffrey Epstein was not close.
That their last contact was well before he joined Barclays in December 2015 .

Evidence—including hundreds of emails—demonstrated a long-standing and personal correspondence, with Staley referring to Epstein as a “deepest” and “most cherished” friend, directly contradicting those statements .
The Tribunal found that Staley’s actions constituted breaches of three provisions from FCA’s Senior Managers and Individual Conduct Regime:
ICR 1: Act with integrity
ICR 3: Be open and cooperative with regulators
SMCR 4: Disclose information the regulator would reasonably expect

The Tribunal characterized Staley’s approval of the misleading letter as a serious failure of judgment and lack of integrity, noting a clear motive to downplay his ties to Epstein and an absence of remorse .
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