Categorised: The Stream | Tags: compliance, conduct, FCA, whistleblowers
Whistleblowing complaints to the UK Financial Conduct Authority have registered a slight decline in the first quarter this year, with the majority of reports focusing on compliance-related issues.conduc
The FCA received 281 whistleblowing reports in the three months to the end of March, down from 298 in the same quarter last year and slipping from 292 in the final quarter of 2024.
“We assess every whistleblowing report we receive that falls within our remit, to inform our work and help us identify actual or potential harm. This could be harm to consumers, to markets, to the UK economy or to wider society,” the regulator said.
The majority of complaints focused on breaches of compliance, with 65% of the total reports falling into this category. Concerns about systems and controls, which ended up being the reason for fines in many FX investigation cases a decade ago, made up just 22% of the reports.
Of the 468 cases that the regulator closed in the first quarter, only 12 found significant harm and 213 reports resulted in no further action.
While Ripple has been making headlines in recent days, every chatter about it has been setting the crypto community abuzz. In a recent post on X, EDO FARINA, a prominent advocate for XRP, has issu...