Tag Archives: whistleblowing

PRA publishes Occasional Consultation

PRA’s latest Occasional Consultation paper proposes minor changes to several modules of its Rulebook. Proposed changes include changes to whistleblowing requirements for UK branches of non-EEA deposit takers, MiFID 2, IDD and BMR forms and CRR and CRD amendments in application requirements. Consultation closes on various dates from 17 October to 9 January.

The European parliament’s committee on economic and monetary affairs (econ) calls on commission to present legislation to protect whistle-blowers

In a draft opinion published on the 23 May, ECON¬† says there is a need to ensure whistle-blowers are able to report not only illegal activities but also wrongdoing and any information in the public interest. The draft opinion says whistle-blowers should be free to report both internally within the workplace, and externally, and should […]

FCA makes whistleblowing rules for foreign bank branches

FCA has made its final rules on whistleblowing requirements for UK branches of foreign banks.¬† The rules cover UK branches of both EEA and third-country banks and require them to implement whistleblowing rules by 7 September. FCA made only minor changes from its consultation version. Under the new rules, firms must tell their employees of […]

PRA makes branch whistleblowing rules

PRA has made policy statements and rules requiring UK branches of non-EEA banks and insurers to tell their staff about the PRA and FCA’s whistleblowing services. Any non-EEA bank that has both a branch and a subsidiary in the UK must also tell its branch staff about the whistleblowing procedures the subsidiary has in place. […]

AFME responds on whistleblowing

AFME (The Association for Financial Markets in Europe) has published its response to the FCA and PRA consultation papers on whistleblowing in UK branches of overseas banks. The FCA and PRA propose that UK branches of overseas banks tell their UK-based employees about the FCA and PRA whistleblowing services. Where a branch of an overseas […]

PRA and FCA feed back on accountability

PRA and FCA have published several papers on the SMR, SIMR and accountability standards. FCA’s supervisory review of the SMR highlights its views that firms have, in general, engaged well. It gives detailed feedback, separately, in respect of UK banks and building societies, branches from both inside and outside the EEA, and credit unions. It […]