A Missed Opportunity For Whistleblower Protections In UK
By Lynne Bernabei and Kristen Sinisi (May 17, 2018, 4:38 PM EDT) -- The United Kingdom's Accountability and Whistleblowing Instrument of 2015 established a robust regime of whistleblower protections that went into effect in 2016. Last month, the Financial Conduct Authority and the Prudential Regulatory Authority decided the first test case under those provisions in a matter involving Barclays Investment Bank's chief executive officer, Jes Staley, and his crusade to unmask a whistleblower. The regulators' decision to levy a financial penalty against Staley and no punishment against Barclays called into question the extent to which the FCA and PRA will give teeth to the protections.
Pursuant to the new regulations, covered firms, including deposit...
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