FCA ramps up rules backing whistleblowers

The rules take full effect in September 2016, and apply to deposit-takers - banks, building societies, credit unions - with over £250m in assets, and to insurers subject to the Solvency II directive. But the FCA said they are "non-binding guidance" for all other firms, such as advisers. that it supervises. Firms will have to appoint a senior manager as their whistleblowers' champion, and put in place internal whistleblowing arrangements able to handle all types of disclosure from all types of person. They must also put text in settlement agreements explaining that workers have a le...