The fine imposed on Barclays' chief executive Jes Staley has been signalled as a warning to executives that regulators will not hold back from acting on the rules in the senior managers regime.
Thomson Reuters reports that Sam Woods, chief exeutive of the Prudential Regulatory Authority, said recent action taken by the watchdog under the regime demonstrated it would not "shy away" from holding managers to account.
Woods does not mention Staly by name, but the fine of £642,000 imposed on Staley has been confirmed as the first action taken under the senior managers regime.
Woods is quoted as saying: "This year we saw the first use of
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