Dealing with whistleblowing incidents is complex, there are usually many moving parts and a regulatory backdrop to consider. They will never arise at the "right" time and they will often call for interactions with senior stakeholders within the business. As a result, it is important to have to hand a checklist of issues to address, allowing you to focus on key priorities and effectively manage any whistleblowing reports received.
But what does this checklist look like? Where should you start? At what points are various communications or reporting needed? Where should data review and risk assessment occur?
In our recent Regulation Tomorrow we outline the ten key practical steps for firms to consider.
Whistleblowing remains a key tool for the Financial Conduct Authority (FCA) to identify actual or potential harm to consumers, markets, the UK economy and wider society.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
