On 27 August 2024, the Upper Tribunal ruled in the FCA’s favour on the refusal to allow Thomas Llewellyn Kalaris to perform senior manager functions.
Laura Dawes, director of authorisations at the FCA, said: 'We welcome the Tribunal's ruling. It unanimously found that Mr Kalaris was dishonest in 2 enforcement interviews the FCA conducted into events that occurred during his time at Barclays. He is therefore not fit to be a senior manager in a business regulated by us. It is vital financial firms are led by those who are honest, transparent and who act with integrity.'
Read the Tribunal's ruling and our decision notice (PDF).