Last month, the Financial Conduct Authority banned Jes Staley, former chief executive of Barclays, from holding senior position in financial services, also fining him a £1.8 million fine, for misleading it over a personal relationship, namely with Jeffrey Epstein.

In this article for FT Adviser, Joseph Duggin discusses the case and how it is a cautionary tale not to bury your head in the sand when “uncomfortable truths” arise – especially when dealing with your regulator.