UK’s Financial Conduct Authority and Prudential Regulation Authority Consultation Paper on Whistleblowing

Summary of the FCA and PRA consultation paper on how they propose whistleblowing issues are going to be handled in future – mix of legal/HR and compliance issues It is going to make some very important and wide reaching changes, including that an independent non-executive director will have to be appointed as a “whistleblowers’ champion” and who will have overall responsibility and specific regulatory accountability to ensure those making disclosures are not mistreated and who will have to produce an annual report to the board.

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