In an effort to address criticism about the speed of its response to past reports of misconduct, and a failure to shield whistleblowers adequately, the UK Financial Conduct Authority (FCA) has launched a new campaign — “In confidence, with confidence” — that aims to encourage individuals working in financial services to report potential wrongdoing to the FCA.
Mark Steward, Executive Director of Enforcement and Market Oversight at the FCA said, "we want all whistleblowers to feel welcomed by us and to feel safe because of us. We listen to all whistleblowers and, if they shine a light on serious misconduct, we want to make sure we act responsibly. When whistleblowing works well it helps consumers, markets and firms and keeps everyone safe and that is our aim."Recently, the FCA’s website has been updated to provide more comprehensive information for potential whistleblowers, and the regulator’s whistleblower team is developing a confidential web form to facilitate greater reporting of wrong-doing and adding to the ways in which whistleblowers can make disclosures to them. Those who report to the FCA will have a dedicated case manager and can meet with the FCA to discuss their concerns and receive regular updates throughout the investigation.
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