What has happened?
In August 2022, the FCA issued data showing the number of new whistleblowing reports received between January and March 2022 and by what methods the information was received.
What do you need to do?
The FCA’s whistleblowing team receives reports by telephone, email, online reporting form and post. In Q1 of 2022, it received 276 new whistleblowing reports. Most of the new reports were received via the FCA online reporting form.
The FCA team reviews all reports to make sure information from whistleblowers is managed appropriately. Any information from consumers or firms is redirected to other relevant teams to consider, such as the Supervision Hub.
Every report received contains one or more allegations of wrongdoing, and the 276 reports received in this quarter contained 540 allegations in total, analysed below and falling under the following five overarching themes:
- fitness and propriety,
- treating customers fairly,
- FSMA,
- culture, and
- compliance
How can we help you?
If you’d like to know more about how we can help you with your whistleblowing arrangements, or any other regulatory compliance issues, our specialist team is here to help. Contact us today on 0207 436 0630 – or email info@thistleinitiatives.co.uk.