Asset management whistleblowing cases falls to new low

Only 21 in the industry last year

The number of whistleblowing cases in asset management firms reported to the Financial Conduct Authority (FCA) fell to its lowest level last year amid concerns workers feel they may not be fully protected when highlighting wrongdoings.

According to the Financial Times, only 21 cases from the asset management industry were reported to the FCA last year, half as many compared to 2014 and the lowest number since the regulator ramped up attempts to encourage whistleblowing. However, governance campaigners said employees could be deterred by Barclays CEO Jes Staley's attempts to unmask a whistleblower, which resulted in the FCA and Prudential Regulation Authority (PRA) last week jointly fining Staley £642,430 for breaching individual conduct rules when he tried to identify the author of an anonymous letter to the bank in 20...