- FCA and PRA extend their whistleblowing rules to UK branches of overseas banks and insurers
- Original news
- What is the background to this policy statement?
- What should firms be particularly aware of?
- Have the FCA and PRA dealt with industry concerns in the final policy statements?
- Do firms need to take any action in light of this policy statement?
- What are the key takeaways for practitioners advising clients?
Financial Services analysis: The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have published new rules which will take effect from September 2017, requiring UK branches of overseas banks and insurers to tell their UK-based employees about the whistleblowing services offered by the FCA and PRA. UK branches of overseas banks with UK subsidiaries will also need to tell their staff about the company’s whistleblowing channels. Fiona Bolton, partner at Eversheds Sutherlands, explains what firms need to know about the rules and what to do now in order to ensure compliance.
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