FCA ordered to compensate wrongly dismissed whistle-blower

Regulator will consider further training in light of commissioner's report

Nicola Brittain
clock • 2 min read

The Financial Conduct Authority (FCA) was ordered to compensate a whistle-blower £300 after it was found to have unfairly rejected their complaint.

The complaints commissioner ruled the regulator had wrongly dismissed the complaint after failing to "appropriately consider" evidence provided by a whistle-blower against two firms accused of malpractice.  The whistle-blower lodged a complaint against the regulator on 23 June 2015 stating that call centre staff at two companies, named company C and P in the report, were giving advice to consumers despite not being authorised or trained to do so. This complaint was rejected by the FCA on 13 July, after it said "it was not detailed enough to be considered further". The whistle-blowe...

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