Looking at how we interact with whistleblowers

While the piece contains no new rules, it signals continued supervisory focus on how firms treat individuals who raise concerns. The FCA notes a 22% rise in whistleblowing reports over the past year and reiterates that empathy and professionalism are essential to maintaining trust. For compliance teams, this is a reminder that effective whistleblowing arrangements are not just a regulatory obligation but a critical component of conduct risk management.

Firms should review their whistleblowing policies and procedures to ensure they are accessible, confidential, and protect against retaliation. Training for managers and HR on handling vulnerable reporters should be refreshed, and MI on report volumes, outcomes, and employee confidence should be escalated to boards. The FCA’s tone suggests that poor handling of whistleblowers can damage trust and may attract supervisory scrutiny.

No immediate action is mandated, but proactive assessment of current arrangements is prudent. Opportunities exist to strengthen speak-up culture, detect misconduct earlier, and reduce enforcement and reputational risk. Firms of all sizes should consider whether their processes align with FCA expectations and the enhanced regime for banks, insurers, and PRA-designated investment firms.