FCA: Banks will need to appoint a whistleblowing champion from next year

first_img Share Chris PapadopoullosChris Papadopoullos was City A.M.’s economics reporter until February 2016. He is an economist at OMFIF. FCA: Banks will need to appoint a whistleblowing champion from next year City financial firms will now be required have a whistleblowing champion to present an annual whistle blowing report, according new rules published today by the UK’s financial watchdog.The new whistleblowing champions, who must be a senior manager, will be responsible for internal whistleblowing arrangements and must be able to handle all types of disclosure from all types of person, the Financial Conduct Authority (FCA) said this morning. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInstitutional Investors Turn To Options to Bet Against AMCvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.com whatsapp whatsapp Show Comments ▼ Tuesday 6 October 2015 7:02 am “It is in the interests of the industry and regulators alike that wrongdoing is identified and addressed promptly,” said FCA boss Tracey McDermott.“For individuals to have the confidence to come forward, it is vital that firms have in place adequate policies on dealing with whistleblowers and that a senior manager takes responsibility for overseeing these policies.”The rules, which apply mostly to banks and insurers, will come into force in September 2016.There were 1,340 whistleblowing disclosures for the year ending 30 March 2015, up 28 per cent on the previous year, the FCA said last_img

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