In May, the FCA published its findings from a qualitative assessment survey it conducted back in January 2022 to explore the experiences of whistleblowers reporting to it. As a result of the feedback received, the FCA is hoping to make improvements to its whistleblowing regime. In particular, the FCA will use the survey results to inform its contribution to the wider review of whistleblowing legislation that the Department of Business and Trade is undertaking.
The FCA is keen to stress the important role that whistleblowers play in the regulatory system. It has a dedicated whistleblowing team that considers all of the 1,000+ reports it receives each year. These reports are an important insight for the regulator and assist with both supervision of and enforcement against regulated firms. The FCA reports that around one third of whistleblowing cases lead to it taking some action.
It is unfortunate, therefore, that the feedback received in this survey indicated a high level of dissatisfaction with the experience among whistleblowers themselves. The FCA’s analysis of the feedback received is that whistleblowers do not feel listened to nor that the issues they report are properly explored. The majority of respondents who had chosen to be kept informed in relation to what they had disclosed reported that they did not find subsequent progress updates reassuring. For the nine individuals whose cases had concluded by the time of the survey, eight said that the outcome did not meet...
The Dangote Group has become aware of a publication titled “Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu,” which is false, malicious, and baseless. At no time did the Pre...