The City watchdog received 518 whistleblowing allegations in the third quarter, with the most common complaint relating to treating customers fairly.
Out of 518 allegations from 289 reports, 79 were on treating customers fairly, 77 were about firms breaking the Financial Services and Markets Act 2000 (FSMA) and 77 were around fitness and propriety. This was followed by 42 allegations relating to the culture of the organisation, 34 were about compliance and 33 on fraud.
The Financial Conduct Authority (FCA) received 123 whistleblowing allegations in July, then this rose to 154 in August before falling to 141 in September.
Complaints around FSMA saw the largest monthly fall from 31 in August to 23 in September, while allegations of whistleblower detriment increased from five to 11.
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“Our whistleblowing team receives reports about alleged wrongdoing in the areas of financial services that fall within our remit,” the FCA said on its website.
“We assess every whistleblowing case we receive, to inform the work we do and to help us to identify actual or potential harm that has arisen or could arise. This could be harm to consumers, to markets, to the UK economy or to wider society.
“Deciding to blow the whistle is a brave act and we greatly value the information we receive from whistleblowers.”
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