16 Jan 2019
The Financial Conduct Authority (FCA) has reportedly launched an investigation into working culture at investment bank RBC Capital Markets following the dismissal of RBC workers who were mistreated after they raised concerns about compliance issues at the bank.
According to media reports, former RBC employees have spoken to the FCA as part of the probe.
In an emailed statement, RBC said: “We actively promote a culture of compliance and giving employees opportunities to speak up and raise concerns without fear of retaliation. While we are unable to comment on any specific matter, we always cooperate with our regulators.”
The FCA declined to comment.
Separately, the regulator is expected to announce an overhaul into the treatment of whistlblowers in the UK’s banking sector.
The plans will likely focus on issues such as whisteblower confidentiality and the enhancement of senior oversight of investigations.
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