WHY NOT NAME AND SHAME THE GUILTY BARCLAYS OFFICERS ?

By now,  you have read and absorbed the news about the £72m fine levied against Barclays PLC, for compliance violations that occurred when the bank allowed wealthy Politically Exposed Persons (PEPs) to participate in a secretive billion Pound investment. The case is especially egregious, due to the fact that Barclays reportedly went to extraordinary lengths to conceal the names of the investors, keeping that information in a secret safe that staff members did not know existed, and that it applied a lower level of Due Diligence upon those individuals, than it required for PEPs.

The real tragedy here is that the United Kingdom Financial Conduct Authority (FCA) has failed to name & shame the senior officers at the bank who ran this obscene operation, and has declined to take any action against them. How are we to know whether a new hire at the bank, next year, was one of the guilty ones, who kept the PEP client names totally out of the computer databases of customers, to hide them from even other Barclays bankers ? These individuals need to be permanently banned from the global financial services industry, and to do any less shows the financial sector that they can, indeed, get away with such conduct.