Whistleblowing: Implications of the FCA's New Regime

Following recommendations in 2013 by the Parliamentary Commission on Banking Standards, the Financial Conduct Authority ("FCA") and Prudential Regulatory Authority ("PRA") published new rules on 6 October 2015 in relation to whistleblowing. These rules are set to build on existing good practices within the financial services industry and the new Senior Managers Regime by codifying a set of measures aimed at encouraging employees to blow the whistle on malpractice. Of significance, however, is the fact that the PRA and FCA have decided not to impose a generalised duty on staff of relevant firms to "blow the whistle". Please click here to read more.

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