The Financial Conduct Authority’s Decision Notice published today proposes to publicly censure and ban Mr Tinney from carrying out any senior management or ‘significant influence functions’ in any regulated financial service provider.
Mr Tinney disputes the FCA’s decision and has referred the matter to the Upper Tribunal at which the FCA and Mr Tinney will be able to present their cases, says the FCA. As a result, for the time being the decision notice has no effect pending the determination by the tribunal.
The FCA says that in relation to the ban the tribunal will determine whether to dismiss the reference or return it to the FCA with a direction to reconsider and reach a decision in accordance with the findings of the Tribunal.
On the public censure, the tribunal will determine what the appropriate action is for the FCA to take in relation to the matter. The tribunal’s decision will be made public on its website.
Between 20 May 2010 and 17 December 2012, Mr Tinney was the global chief operating Officer of Barclays Wealth and Investment Management, a division of Barclays Bank, In that role, Mr Tinney was responsible for overseeing Wealth’s global technology, operations and infrastructure activities and for Wealth’s Compliance function, and had joint responsibility for Wealth’s Legal function.

The authority alleges that Mr Tinney failed to act with integrity in carrying out his controlled functions in relation to ‘regulatory deficiencies’ found by the SEC at Barclays Wealth America.