What has happened?
Data issued by the FCA in March 2022 shows the number of new whistleblowing reports it had received between October and December 2021 and the types of allegations it contained.
What do you need to do?
The FCA’s whistleblowing team receives reports by telephone, email, an online reporting form and post. In 2021 Q4, it received 279 new whistleblowing reports.
Figure 1 above shows that most of the new reports received in 2021 Q4 were via the online reporting form.
The FCA can accept both anonymous and identified whistleblowing reports.
Figure 2 shows that in most of the reports received in 2021 Q4, whistleblowers provided their contact details.
Every report received will contain one or more allegations of wrongdoing. The 279 reports received during this quarter contained 525 allegations in total. Typically, the reports received contain allegations that fall under the following five overarching themes:
- treating customers fairly,
- FSMA,
- fitness and propriety,
- culture, and
- compliance
In Figure 3 the FCA lists the top 10 allegations made in whistleblowing reports in the period.
We can help you with regulatory compliance consulting services
If you’d like to know more about how we can help you with your whistleblowing arrangements, or with any other regulatory compliance consulting services, our specialist team is here to help.
Contact us today on 0207 436 0630 – or email info@thistleinitiatives.co.uk.
See also our blog post FCA announces new whistleblowing campaign.