Barclays CEO fined $872,000 over whistleblower affair

British regulators on Friday said they have fined Barclays chief executive Jes Staley £642,430 ($872,000, 730,000 euros) after he breached rules by trying to uncover a whistleblower.

They had already last month announced their intention to fine Staley following a year-long investigation of US national Staley.

Barclays confirmed Friday that the Financial Conduct Authority and the Bank of England’s Prudential Regulation Authority were each fining Staley around ten percent of his annual salary, bonus and pension combined.

The London-listed lender added that it would also reduce his compensation by £500,000.

Staley, who had already apologised to Barclays’ shareholders over the matter that took place in 2016, said Friday that he accepts “the conclusions of the Board, the FCA, and the PRA, following their respective investigations, and the sanctions which they have each applied”.

The regulators noted in a separate statement that they viewed the “misconduct as sufficiently serious for each to impose a penalty of 10 percent of Mr Staley’s relevant annual income. “Taking into account that he has settled at an early stage, Mr Staley has been fined a combined sum of £642,430,” they added.