FCA: NDAs should not deter whistleblowers from reporting non-financial misconduct

Firms to be grilled about NDA use

The Financial Conduct Authority has said individuals should report non-financial misconduct cases through its whistleblower hotline even if non-disclosure agreements have been signed.

During the last hearing of the Treasury Select Committee's Sexism in the City inquiry on Wednesday (17 January), FCA executives responded to concerns about use of NDAs during incidents of bullying and sexual harassment to silence victims and protect the perpetrators.  Sarah Pritchard, executive director of supervision, policy and competition at the FCA, told MPs the regulator would soon begin to ask wholesale banks, wholesale insurers and brokers for data on the number of complaints of non-financial misconduct in their firms, as well as how these cases were resolved. Treasury Committe...