FCA remains resolute on whistleblowing review amid claims of inaccuracies

Following Lloyd report

The Financial Conduct Authority has remained steadfast that its recent review into whistleblowing practices is accurate following criticism from a whistleblower of the report’s unreliability.

Last month, a review conducted by Richard Lloyd, senior independent director at the FCA board, cleared the financial watchdog's chair, Ashley Alder, of any wrongdoing in his handling of communications from two internal whistleblowers.  Alder had faced allegations in August of exposing the identities of the two whistleblowers by forwarding email correspondence that disclosed the names, addresses and unredacted concerns of the pair.  However, Lloyd's review concluded that, by forwarding the emails onto colleagues, the FCA chair "reasonably took the view that he was providing information...