Calls to FCA's whistleblower hotline jump 23% in a year

Laura Miller
clock

The number of calls to the Financial Conduct Authority's (FCA) ‘whistleblower hotline' to report suspected malpractice in the financial services industry has jumped 23% in the last year, according to figures obtained by law firm RPC.

The FCA received 4,718 calls from staff at financial services firms to the hotline over the last year to August, - up from 3,834 calls the year before. RPC partner Steven Francis said: "This significant jump in the space of just one year suggests a shift in attitudes within the financial services sector. "Individuals working in financial services who suspect any wrongdoing by their colleagues are more aware than ever of their personal responsibility to report it. "If they are an ‘approved person' by the FCA then they have a duty to act with integrity, which means they could be held...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Trade bodies call for chancellor to stop FCA public enforcement

Trade bodies call for chancellor to stop FCA public enforcement

‘Proposals to publicise investigations are a worrying development’

Isabel Baxter
clock 29 April 2024 • 2 min read
SDR extension plans will ensure 'uniform standard' for portfolios

SDR extension plans will ensure 'uniform standard' for portfolios

'Retail-focused firms are also facing a short timeline to prepare'

Cristian Angeloni
clock 24 April 2024 • 4 min read
FCA proposes advisers and platforms 'must' communicate SDR labels

FCA proposes advisers and platforms 'must' communicate SDR labels

Distributors also must provide access to consumer-facing disclosures

Isabel Baxter
clock 23 April 2024 • 1 min read