The Financial Conduct Authority (FCA) is increasing the protections for those seeking to blow the whistle on poor industry practice, and is tightening the rules for what firms must do to encourage and respond to whistleblowing.
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. ...
Three examples of compensation rule issues
Buying in baskets
Scam victims lost average £91,000
Stepped down following MBO
Helped by rising oil price