On Tuesday (24 June 2025) the FCA published its Prescribed Person’s Annual Report on whistleblowing (“24/25 Report”), which covers reports received and acted on with during the period 1 April 2024 – 31 March 2025 (the “24/25 Period”).
In broad terms, the 24/25 Report underscores the FCA's commitment to protecting whistleblowers and aims to highlight the vital role and real impact of whistleblowers’ reports in exposing wrongdoing and maintaining the integrity of the financial sector, in an effort to encourage more reporting, which is a critical source of intelligence for the FCA.
Unlike previous years’ Annual Reports, which were limited to reporting on data and actions taken in respect of reports received during the reporting period only, the FCA has for the first time also included information about all reports whose reviews were completed during the reporting period (regardless of when they were received). This slight shift in scope is welcome, and provides more valuable insight into the nature and extent of the FCA’s activity and responses to whistleblowers in the financial sector, as well as the volume, quality, and types of reports it receives.
A few notable points include:
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