US lawmakers unveil bill to hold Wall Street’s ‘Epstein-connected’ bosses to account
Move comes as Senator Elizabeth Warren condemns Barclays response to questions over ex-boss’s ties to sex offender
TL;DR
- US lawmakers are introducing the Epstein Wall Street Records Act.
- The bill aims to hold Wall Street executives accountable for financing Jeffrey Epstein's crimes.
- Regulators would be required to investigate 'Epstein connected' financial firms and executives.
- Potential penalties include fines and bans from the US financial sector.
- The bill also mandates public disclosure of Epstein-related records and referral of criminal violations to the justice department.
- Senator Elizabeth Warren has condemned Barclays for failing to adequately address its former CEO Jes Staley's ties to Epstein.
- Staley resigned from Barclays after UK regulators investigated his relationship with Epstein.
- UK regulators found Staley and Epstein were 'indeed close' and their relationship went beyond professional.
- Staley was banned from the UK financial sector in 2023 for downplaying his ties to Epstein.
- Barclays' response to Warren's inquiries focused on Staley concealing information and the bank relying on external recruiters.