The UK Financial Conduct Authority has said that the former chief operating officer of Barclays Wealth and Investment Management, Andrew Tinney, should be publicly censured and banned from carrying out any senior management or “significant influence functions” in any regulated financial service provider.

The regulator added that Tinney disputes the FCA's decision and has referred the matter to the Upper Tribunal at which the FCA and Tinney will be able to present their cases, Dow Jones reports.