A Freedom of Information request submitted by Regulatory Intelligence revealed that the UK Financial Conduct Authority (FCA) received almost 1,000 whistleblower reports from 2019 and 2020. Critics complain of a slow-pace in reviewing these claims.
The FCA writes on its website that each whistleblower report is different, and so the process and timeline to assess the cases will vary widely. "Whistleblowing reports remain a vital and unique source of information for our work. They help us to better understand the behavior of the firms we regulate, to supervise more effectively, and in our enforcement actions," the FCA wrote in its most recent annual report.
This content is available to paid Members of Starling Insights.
If you are a Member of Starling Insights, you can sign in below to access this item.
If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform. Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.
Join The Discussion