Reference Case Number: FOI9195
Freedom of Information: Right to know request:
I would like an update to information supplied under FOI8058[1].
Please update all of the information provider in FOI8058 for 2019, 2020 and add 2021. To be clear please include the number of whistle-blowing reports still under investigation for each of these calendar years.
FCA response:
- How many whistleblowing reports/notifications did the FCA receive?
2019 – 1,179
2020 – 1,075
2021 – 1,025
- How many of these reports/notifications led to investigations?
To date, 59 reports received in 2019, 46 reports received in 2020 and 7 reports received in 2021, have led to significant action to mitigate harm. Significant action may include, but is not limited to, enforcement investigation, s166 skilled persons reports or the variation/withdrawal of permissions.
Please note that a number of disclosures for both 2019 and 2020 remain under assessment (149 for 2019, 304 for 2020, and 868 for 2021). These may result in significant action being taken as and when the final outcomes of these assessments are determined.
- How many of these reports/notifications resulted in no further action?
To date, 345 reports received in 2019, 286 reports received in 2020 and 231 reports received in 2021 have resulted in no further action being taken.
As with our response to question 2 above, a number of disclosures for both 2019, 2020 remain under assessment (149 for 2019, 304 for 2020, and 868 for 2021). These may result in significant action being taken as and when the final outcomes of these assessments are determined.
- Please breakdown the nature of the notifications (FCA internal categories - such as conduct and culture/systems & controls/etc)?
The nature of the allegations is set out in the table below. Please note, one disclosure can contain multiple allegations; as a result, there are more allegations than disclosures.
|
Allegation Subject |
2019 |
2020 |
2021 |
|---|---|---|---|
|
Total |
Total |
Total |
|
|
Fitness & Propriety |
443 |
384 |
353 |
|
Systems & Controls |
396 |
290 |
131 |
|
Compliance |
375 |
525 |
229 |
|
Treating Customers Fairly |
342 |
314 |
282 |
|
Culture of organisation |
219 |
211 |
184 |
|
Consumer Detriment |
161 |
185 |
100 |
|
Fraud |
119 |
119 |
136 |
|
Data Security |
109 |
86 |
57 |
|
Unauthorised Business |
92 |
117 |
95 |
|
SYSC 18 |
70 |
62 |
74 |
|
Mis-selling |
67 |
54 |
51 |
|
Pressure Selling |
57 |
54 |
26 |
|
KYC |
50 |
36 |
22 |
|
FSMA |
45 |
28 |
178 |
|
Capital Adequacy |
39 |
51 |
46 |
|
AML |
38 |
33 |
16 |
|
Market Activity |
25 |
35 |
27 |
|
Insider Dealing |
21 |
21 |
14 |
|
Consumer Credit |
17 |
29 |
16 |
|
Market Manipulation |
16 |
21 |
18 |
|
Remuneration and incentivisation |
15 |
17 |
21 |
|
Pension |
12 |
7 |
23 |
|
Crime |
8 |
14 |
26 |
|
Competition |
4 |
1 |
2 |
|
Non-regulated products |
3 |
2 |
5 |
|
FX-related |
2 |
0 |
2 |
|
Client Assets |
1 |
6 |
13 |
|
Terrorist Finance |
1 |
5 |
4 |
|
Bribery & Corruption |
0 |
11 |
14 |
|
Business Continuity Planning |
0 |
24 |
2 |
|
Covid 19 |
0 |
55 |
34 |
|
OPBAS AML |
0 |
1 |
0 |
- How many reports were about whistleblowing champions?
2019 – 8
2020 – 4
2021 – 1
In answering this question, we conducted key word searches against our data repository to identify instances where a Whistleblowing Champion is the subject of a disclosure.
- How many whistleblowing champions are under investigation?
None.
- How many FTE work in the FCA whistleblowing team?
The Whistleblowing Team currently has 16 full-time equivalent (FTE) employees. In addition to the Whistleblowing team, two FTE employees in FCA Supervision are responsible for passing reports to relevant supervisory teams for assessment.
The Whistleblowing Team act as the interface between the FCA and the whistleblower – and between the whistleblowers’ information and the rest of the FCA. The assessment of whistleblowing intelligence is carried out by staff across the FCA.