The UK banking giant said it was being investigated by conduct watchdog the FCA and prudential body the PRA after its group chief executive, Jes Staley, attempted to identify the author of a whistleblowing letter.
But Barclays PLC shares were trading at 215.4p as at 10:49am this morning, 0.05% higher than yesterday’s close and defying a wider FTSE 100 index decline of 0.03%.
It comes after the shares initially fell by as much as 1.2% this morning on initial reaction to the headlines, before recovering sharply afterwards.
Barclays has been fighting for several years to cast off the reputational damage that occurred in the Libor-rigging scandal.
The firm said Staley was facing a “very significant” pay cut for his actions, which came after an anonymous letter, questioning a recent senior appointment at the bank, was circulated around the board.
In response, Staley asked the bank’s Group Information Security division to try to identify the source of the letter, “honestly, but mistakenly” believing this was permissible when in fact it was prohibited under whistleblower rules.
