The boss of the UK financial watchdog has said “difficult decisions” have to be taken with some whistleblowers after an investigation was triggered following the suicide of a banker who flagged alleged ties between Jeffrey Epstein and the US commerce secretary.
Nikhil Rathi, the chief executive of the Financial Conduct Authority, told MPs on Tuesday that it was “important for us to reflect on how we communicated and how we engaged with the individual” following the news of Simon Andriesz’s death last month.
Andriesz had worked as a managing director at BGC Group, a financial brokerage where Howard Lutnick had served as chief executive. Lutnick was named Donald Trump’s commerce secretary in late 2024.
In 2020-2021, Andriesz is reported to have told the FBI that Lutnick had undeclared business ties with late sex offender Jeffrey Epstein. Lutnick has denied any “personal or professional” relationship with Epstein.
In an interview with the BBC, Andriesz accused the US and UK authorities of failing to hold BGC to account and protect him from potential retaliation. He has also accused the FCA directly of mistreating whistleblowers.
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