The Financial Conduct Authority (FCA) has bolstered its internal resources and launched a new campaign, in efforts to encourage more whistleblowers to come forward and report potential wrongdoing.
Its new campaign, ‘In confidence, with confidence', seeks to remind individuals of the confidentiality and protection they receive if they come forward with information. Some global market regulators, such as those in the US, offer incentives for whistleblowers to come forward, with the SEC and CFTC offering 10% to 30% of assets recovered by subsequent enforcement action if the amount exceeds $1m. Such incentives are not offered by the FCA, which has instead been investing in increased resourcing to support whistleblower interaction, including increasing the headcount on its whistlebl...
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