On 4 May 2023, the FCA published the findings from the whistleblowing qualitative assessment survey it carried out in 2022.

Following information received via the survey, the FCA has set out actions to improve the confidence of whistleblowers, which includes the following:

  • Providing whistleblowers with more detail on the FCA’s actions, reasons for taking or not taking action, and the outcome when it closes a case.
  • Improving the use of whistleblowers’ information across the FCA (e.g. making the best use of data and ensuring that end-to-end whistleblowing processes are as efficient as possible).
  • Enhancing the FCA’s web form, which is the most popular way for whistleblowers to contact the FCA, to fully capture every whistleblower’s disclosure.
  • Improving the training given to the FCA’s Whistleblowing Team.
  • Engaging with the Department for Business and Trade to support a review of whistleblower legislation with the aim of enhancing the wider whistleblowing system.

The FCA was disappointed to see the dissatisfaction expressed by many survey respondents. Therefore, in addition to the above action points, the FCA will improve the final feedback provided to whistleblowers and survey all whistleblowers when it closes their case. The FCA will also ensure that the survey results presented in its findings report are used to inform their contribution to the wider review of whistleblower legislation that the Department of Business and Trade will undertake in the coming months.