Key facts
- The Epstein Wall Street Records Act was introduced by a bipartisan group of lawmakers.
- The bill aims to hold financial firms and executives accountable for enabling Jeffrey Epstein's crimes.
- Regulators like the Federal Reserve and SEC would investigate potential breaches of financial laws.
- Barclays is criticized for its failure to adequately vet former CEO Jes Staley's relationship with Epstein.
- Jes Staley resigned from Barclays in November 2021 amid investigations into his ties with Epstein.
US lawmakers have unveiled a new bill, the Epstein Wall Street Records Act, aimed at holding financial firms and executives accountable for their alleged involvement in financing Jeffrey Epstein's crimes. Introduced by a bipartisan group including Senator Elizabeth Warren and Representative Robert Garcia, the bill would compel regulators like the Federal Reserve and the Securities and Exchange Commission to investigate "Epstein connected" entities for potential breaches of financial laws. It also mandates public disclosure of records related to Epstein and his associates and referral of potential criminal violations to the Justice Department. The move follows months of investigation into the financier, who died in prison in 2019. Senator Warren also criticized Barclays for its handling of its former CEO Jes Staley's relationship with Epstein, stating the bank had failed to adequately vet him. Staley resigned from Barclays in November 2021 after UK regulators began investigating his ties to Epstein, with whom he had a relationship described as "beyond one that was professional in nature."