Series 8, Episode 5: The FCA's track record on whistle-blowing

The UK Financial Conduct Authority (FCA) says it views whistleblowers as a valuable source of intelligence. But whistleblowers feel far from valued by the FCA, according to the findings of the regulator's own survey.

In 2019, the FCA board commissioned a review of its whistle-blowing offering, which was delayed by the pandemic and published in May this year.

The self-assessment found whistleblowers were dissatisfied with the FCA's offering. In response it has set out some changes it is going to make to improve whistleblowers' experience.

In this episode of Compliance Clarified Alexander Robson is joined by Lindsey Rogerson and Rachel Wolcott to discuss their special report on the regulator's approach to whistle-blowing and whistleblowers.

The discussion covers the UK regulator's Principle 11 rethink over when firms are required to notify it of claims involving mistreatment of whistleblowers at the Employment Tribunal and the lack of enforcement cases taken under SYSC18.


Programme notes:
Link to special report outside the paywall: https://regintel-content.thomsonreuters.com/document/I83AB3640FFB611EDBEBCFA0963B51F96

Link to special report for Regulatory Intelligence subscribers: http://go-ri.tr.com/OjIOEz

Link to article on FCA backlog in assessing whistle-blowing reports from May 2022, http://go-ri.tr.com/5NBLVp

Link to article setting out FCA’s previous stance on notification of Employment Tribunals, http://go-ri.tr.com/2OkJvj

Link to article confirming RBC was under investigation in relation to treatment of John Banerjee http://go-ri.tr.com/1YInqd

Link to article on Government review of whistle-blowing, http://go-ri.tr.com/0YKmSO

Compliance Clarified is a podcast from Thomson Reuters Regulatory Intelligence.

Listen to discussions on all things compliance for financial services firms. We cover the hot topics of the day, the challenges faced and offer up practical ideas for emerging good practice. We de-mystify regulation and explore the art, as well as the science, of the ever-expanding role of the compliance officer.  Enforcements, digital transformation, regulatory change, governance, culture, conduct risk — anything and everything affecting the compliance function is up for discussion.

Contact us:
Alexander Robson: alexander.robson@thomsonreuters.com
Lindsey Rogerson: lindsey.rogerson@thomsonreuters.com, or on Signal (07787270363)
Rachel Wolcott: rachel.wolcott@thomsonreuters.com

Compliance Clarified is a podcast from Thomson Reuters Regulatory Intelligence.
Listen to wide-ranging, insightful discussions on all things compliance for financial services firms. We delve into the hot topics of the day, the challenges faced and offer up practical ideas for emerging good practice. We de-mystify regulation and explore the art, as well as the science, of the ever-expanding role of the compliance officer.  Enforcements, digital transformation, regulatory change, governance, culture, conduct risk – anything and everything impacting the compliance function is up for discussion.