FCA plans to ban Barclays Wealth man over destroyed report

Added 14th September 2016

The Financial Conduct Authority (FCA) has said it intends to ban former chief operating officer of Barclays Wealth and Investment Management Andrew Tinney.

FCA plans to ban Barclays Wealth man over destroyed report

The UK regulator said Tinney ‘should be publicly censured and banned from carrying out any senior management or significant influence functions in any regulated financial service provider.’

The FCA’s decision is based on allegations Tinney destroyed an internal report which was critical of conduct within the bank’s US wealth division back in 2013.

Tinney contests the allegations and disputes the FCA’s decision. He has referred the matter to the Upper Tribunal at which he and the FCA will present their cases. Accordingly, the decision notice has no effect pending the determination by the tribunal.

As regards the public censure, the tribunal will determine what the appropriate action is for the FCA to take in relation to the matter. This decision will be made public on its website.

Tinney left Barclays in 2013 have been there since 2009 following the allegations. He now works for an online gaming business. 

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Alex Sebastian

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Alex joined Portfolio Adviser in April 2014 and has been a financial journalist since 2008. He has previously held editorial positions at the Financial Times Group and Euromoney Institutional Investor. Alex is NCTJ qualified and has a degree in economics from the University of Sussex.

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