FCA strengthens whistleblower practices after backlash

Regulator to boost whistleblower confidence with new procedures

Sahar Nazir
clock • 2 min read

The Financial Conduct Authority (FCA) is implementing new actions to help improve the confidence of whistleblowers after receiving backlash.

The regulator's new actions include sharing further information with whistleblowers, improving the use of information provided by them, and how it receives the information. The new move comes after a survey revealed widespread dissatisfaction among whistleblowers who alert the regulator to wrongdoings across the industry. When asked to rate overall satisfaction with the authority's handling of its whistleblowing report, 15 of the 21 respondents said they were 'extremely' or ‘somewhat dissatisfied'. The FCA's ability to share information about how it has acted on the insight provide...

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