Information on whistle-blowing - May 2024

Please find the information requested in the below table:

Please note that reports that remain under assessment are being worked on by the relevant teams. The data inevitably does not provide a full picture on the relative complexity of the reports we receive or, for example, whether they contain multiple concerns.

We have interpreted this question to mean where received intelligence has enabled Enforcement and/or Supervision to take significant action to mitigate actual or potential harm. e.g. action resulted in Financial Penalties, Public Censure, OIREQ/VREQ, Customer Remediation Exercise, Skilled Persons Review (s166).

Additionally, we have interpreted this question as asking how many of the total population of reports/notifications have led to investigations. On this basis, please find the requested information in the table below:

We would also like to explain that there are also occasions where the FCA has taken action in response to a whistleblowing disclosure (as opposed to ‘significant action’). In these instances, ‘action’ would mean that the intelligence enabled Supervision to approach the firm to enquire about actual or potential harm. i.e., supervisory action involved contact being made with the firm and / or a third party, which may or may not have resulted in the firm taking action. On this basis, please find the requested information below:

Please note that by ‘no further action’, we mean that the intelligence was reviewed and/or assessed alongside other relevant intelligence/material as part of desk-based review, but did not require us to take further action, or that the intelligence was not considered relevant to the prevention of actual or potential harm.

Additionally, we have interpreted this question as asking how many of the total population of reports/notifications resulted in no further action being taken. On this basis, please find the requested information below: