The Financial Conduct Authority has banned former Barclays chief executive Jes Staley from the financial services industry and fined him £1.8m for "two misleading statements" on the nature of his relationship with convicted sex offender Jeffrey Epstein.

Staley, whose relationship with Epstein stretches back to his time as a private banker at JPMorgan, is banned from holding a senior management or significant influence function in the financial services industry, the regulator said in a 12 October statement.