on Friday, 28 April 2017.
The Facts
Jes Staley, the CEO of Barclays Bank Plc, has been reprimanded for trying to uncover the identity of an internal company whistleblower and the matter is now being investigated by the Financial Conduct Authority (FCA). It also appears that Mr Staley will be docked a significant proportion of his annual bonus (figures in excess of £1m are being reported).
The Bank's whistleblowing policy offers anonymity to whistleblowers. Following an anonymous complaint that the Bank dealt with under its whistleblowing policy, Mr Staley made efforts to identify the person behind the complaint. His actions were brought to the Board's attention by another employee, who raised a separate whistleblowing complaint about the matter.
When Mr Staley's actions were brought to the Board's attention it commissioned an independent investigation and reported the matter to the FCA. As reported above, it also reprimanded Mr Staley.
There has been a great deal of press coverage on the matter, with many commentators highlighting the potential damage that Mr Staley's actions could have on the confidence of others in Barclays and the wider financial industry to blow the whistle. But what lessons does the story have for employers generally?
Best Practice
For more information, please contact Michael Halsey in our Employment Law team on 020 7665 0842.