The listener of last resort- the FCA reflects on its approach to ... - JD Supra
It is well known that one of the biggest frustrations for whistleblowers is the lack of feedback. Having taken the difficult step to report wrongdoing, they are then left out of the process, and have little or no idea whether their report was taken seriously or investigated, and the outcome. Employers’ hands are tied to a certain extent because giving feedback will inevitably involve disclosing confidential information about other individuals in breach of GDPR and/or other workplace policies. To address this, those employers that are trying to move the dial on speak-up culture are starting to keep individuals engaged during the process by disclosing, for example, that an investigation is taking place, and providing more information on completion, but within the confines of their confidentiality obligations. Employers are also managing expectations at the start of the process so the individual knows what to expect, and feels less let down when feedback is limited.
It comes as no surprise then that the FCA has announced that it will provide whistleblowers with more detail on what has been done with the information provided, and its reasons for taking or not taking action. This announcement follows a qualitative assessment survey of a small sample of whistleblowers, most of whom were extremely or somewhat dissatisfied with the FCA’s response to their disclosure. Their perception was that there had not been enough dialogue, making it appear that the FCA was reluctant to...
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