The former chief executive of Barclays Bank, Jes Staley, lost a legal challenge Thursday against a 2023 decision by Britain's financial regulator to ban him from holding senior financial roles in the United Kingdom for misleading it over the nature of his relationship with the late sex offender Jeffrey Epstein.

Jes Staley, former Barclays CEO, lost his appeal against the financial industry ban imposed by the FCA due to misleading information regarding his ties with Jeffrey Epstein. The tribunal upheld Staley's ban but reduced his fine to 1.

U.S. District Judge Maame Ewusi-Mensah Frimpong ruled on Wednesday that holders of Barclays' American Depositary Receipts plausibly alleged the defendants intended to mislead them to protect the bank's reputation and prop up its stock price.