Following today’s announcement that Barclays chief executive James ‘Jes’ Staley will be fined £642,430, his employer has cut his total remuneration package by £500,000.

The FCA and PRA have jointly fined James Staley £642,430 and announced special requirements on whistleblowing systems and controls at Barclays Bank.

The CISI has warned lessons need to be learned regarding the treatment of whistleblowers, following the FCA fining Barclays CEO Jes Staley for attempting to unmask one.