Nearly 300 whistleblowing reports in Q4 2024

The FCA’s latest data on whistleblowing reports shows it received 292 reports in Q4 2024 containing 852 allegations in total. Nearly half the reports were made by reporters using the online form, although interestingly 62 reports were made by phone. The reporter disclosed their identity in 70% of cases. As usual, compliance, fitness and propriety and culture accounted for the bulk of allegations. 53 related specifically to the Consumer Duty.

During the period the FCA also closed nearly 400 reports. It took significant action in relation to 15 reports and other specific action to reduce harm in nearly half the closed cases.