FCA chair cleared of wrongdoing amid whistleblowing controversy

Review by Richard Lloyd

Financial Conduct Authority chair Ashley Alder has been cleared of wrongdoing despite failing to follow the regulator’s existing whistleblowing policy.

In August, Alder faced allegations of exposing the identities of two internal whistleblowers by forwarding email correspondence that revealed their names, addresses, and unredacted concerns. However, following a review carried out by Richard Lloyd, senior independent director at the FCA board, he has been cleared of any malpractice for his handling of these communications. In a report published today (23 September), Lloyd concluded that by forwarding the emails, Alder "reasonably took the view that he was providing information to [senior colleagues] of which they were already aware, i...