The Financial Conduct Authority (FCA) has defended its processes in dealing with whistleblowers saying it acted "properly" by not treating cases from the SME Alliance as whistleblowing matters.
In defence of its procedures, then acting FCA chief executive Tracey McDermott wrote to Treasury Committee chairman Andrew Tyrie on 22 May to explain what it had done was proper after the MP demanded clarity on the FCA's whistleblower protections. She wrote: "Notwithstanding our view that these were not whistleblowing cases, we only shared with the banks the minimum information required to review the SME Alliance's allegations and we did not share the file of documents they provided with the banks in question." In conclusion, McDermott said: "I hope that this gives you confidence in th...
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