The Financial Conduct Authority received 292 whistleblowing reports between October and December 2024, containing 852 allegations.
The regulator has published its quarterly whistleblowing data which revealed an increase in the number of reports received in Q4 compared to the same period in 2023, when it received 248.
However this was a decrease compared to Q3 2024 when the FCA received 322 reports.
Out of the 292 reports the FCA received between October and December 2024, 134 came from an online reporting form, followed by email (68) and telephone (62).
There were 852 allegations of wrongdoing made, with the most reported allegation being compliance (172).
It also received 121 allegations of fitness propriety, 93 on culture of organisation and 67 on consumer detriment.
The regulator had also received 53 allegations on consumer duty, 44 on fraud and 35 on unauthorised business.
According to the data, 30 per cent of whistleblowers remained anonymous while 70 per cent shared their identity.
In Q4 2024, the FCA had closed 388 whistleblowing reports and took “significant” action to manage harm in 15 of those reports, which may have included enforcement action.
It also took action in 178 reports to reduce harm which may have included writing to or visiting a firm, asking a firm for information or asking a firm to attest to complying to the FCA’s rules.
alina.khan@ft.
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