Emma RadmoreA review by the FCA board’s senior independent director into allegations that the identity of two former employees who complained that their identity was not kept confidential after whistleblowing reports has found that Ashley Alder, the FCA Chair, did breach the FCA’s internal policies. However, the report also found that Mr Alder had divulged information to colleagues in circumstances where he sought to ensure that the concerns were acted on as appropriate, and where he reasonably took the view that he was providing information the relevant colleagues already knew.
As a result of the review, the FCA’s internal whistleblowing policy will be strengthened so it is clear that, in the rare instances of whistleblowing that need to be escalated to non-executives such as the Chair, there will be a need for confidential sharing of certain communications on a need to know basis.