02 Jan 2019
The Financial Conduct Authority (FCA) is to unveil an overhaul of the treatment of whistleblowers in the UK’s financial services sector, according to media reports.
The plans, which are expected to be unveiled in the new year, will likely focus on issues such as how it maintains whistleblower confidentiality and the enhancement of senior oversight of investigations.
Earlier this year the Financial Regulators Complaints Commissioner criticised the FCA after it revealed a Royal Bank of Scotland worker’s identity in a whisleblower’s case.
It also came under strong criticism from various quarters after it fined Barclays CEO Jes Staley £640,000 for trying to unmask a whistleblower within the bank, with critics saying the regulator had been ‘soft’ on Staley.
In the US, the bank and its New York branch were hit with a $15 million penalty over the issue.
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