Financial Conduct Authority  

FCA whistleblowing data shows reporting up 14%

FCA whistleblowing data shows reporting up 14%

The Financial Conduct Authority received 291 reports of wrongdoing containing 734 allegations in the third quarter of 2022, according to recent data.

The latest whistleblowing data released last week (January 12) from the regulator showed that reporting of suspected wrongdoing increased 14 per cent in July to September last year, compared to the second quarter of 2022.

The number of allegations reported saw a significant increase, jumping by 55 per cent.

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The most popular method of reporting was through the online complaints reporting form, but allegations were also received via phone, email, letter and a small proportion by other methods.

The majority of whistleblowers that made reports provided contact details when doing so, but 37 per cent chose to do so anonymously.

Typically the reports received contained allegations that fell under five categories: 

  • fitness and propriety
  • treating customers fairly
  • FSMA
  • culture
  • compliance

The majority of reports received related to compliance issues.