FCA looks to ban former Barclays Wealth exec Andrew Tinney

The Financial Conduct Authority has proposed that Andrew Tinney, formerly chief operating officer of Barclays Wealth and Investment Management, be publicly censured and banned from carrying out any senior financial roles.

Tinney, who has disputed the decision and referred the matter to the upper tribunal, said: "I do not accept that any of my actions can be construed as misconduct.”

The tribunal will now decide whether to dismiss the reference or remit it to the FCA with a direction to reconsider and reach a decision in accordance with its findings. As regards the public censure, the tribunal will determine what the appropriate action is for the FCA to take.

In 2012, the Securities and Exchange Commission ordered Barclays to fix regulatory failings at its US wealth arm. A third party consultancy was hired to look into the issues but according to the FCA, when Tinney received the report – which was highly critical of some of the senior management – he made sure no one else would see it, telling the consultancy that it did not need to circulate a copy.

The report found that the division “pursued a course of revenue at all costs and had a culture that was high risk and actively hostile to compliance”. It recommended that Barclays replace or consider replacing some members of the division’s senior management.

Barclays’ chairman was contacted by a whistleblower who said the report had been suppressed and in December 2012, the bank received the report and Tinney was suspended.