Whistleblowing: financial services

Updating authors: Michael Sholem, Macfarlanes
Consultant editor: Nick Thorpe

Summary

• This section provides information specific to the financial services sector. General information on public interest disclosures can be found in Whistleblowing in the Public interest disclosures section. (See Overview)
• The Public Interest Disclosure Act 1998 gives protection to whistleblowers and aims to encourage workers to disclose information through appropriate channels. (See Public Interest Disclosure Act 1998)
• The PRA and FCA additional whistleblowing rules cover qualifying disclosures and reportable concerns. (See Qualifying disclosures and reportable concerns)
• The additional whistleblowing rules for the financial sector were introduced on 7 September 2016. (See Whistleblowing rules for the financial sector)
• Firms must establish, implement and maintain appropriate and effective internal whistleblowing arrangements. (See Effective internal arrangements)
• The dismissal of an employee will be automatically unfair if the reason for the dismissal was that the employee made a protected disclosure. (See Detriment and dismissal)
• The FCA would regard as a serious matter any evidence that a firm acted to the detriment of an employee because he or she made a reportable concern. (See Fitness and propriety)