UT (Tax & Chancery) UT-2023-000064 - [2025] UKUT 00203 (TCC)

As the Authority made absolutely clear, the focus in this reference is on what was communicated to it in its capacity as Mr Staley’s and Barclays’ regulator and the conduct required of those who hold senior positions in the financial services sector.

It should be emphasised that it is no part of the Authority’s case that Mr Staley was either involved in any of the serious acts of sexual misconduct attributed to Mr Epstein or that he committed similar acts himself. Nor does the Authority allege that Mr Staley was aware of such misconduct on the part of Mr Epstein. As is clear from the summary of the Authority’s case, as set out at [10] to [20] of its Statement of Case, as set out at [12] above, the Authority’s case relates purely to what it says were misleading statements made in the Letter with Mr Staley’s approval regarding the closeness of Mr Staley’s relationship with Mr Epstein, and the recency of his contact with him.

Accordingly, we will not make any findings in relation to any matters which fall outside the scope of this reference.