The FCA has received a decreasing number of whistleblowing reports from financial advisers over the last three years, a freedom of information (FOI) request submitted by Professional Adviser has revealed.
The FOI request highlighted the number and breakdown of whistleblowing reports the regulator has received from advisers since 2015. The Financial Conduct Authority (FCA) received seven reports from advisers in 2015. Two of those related to treating customers fairly, while the others related to fitness and propriety, consumer credit, consumer detriment, non-regulated products and systems and controls. The following year, the number of reports from advisers dropped to six. This time two reports related to fitness and propriety, while one related to systems and controls, one to pensions,...
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