UK watchdogs publish rules on whistleblowing, bank staff references

Britain's financial watchdog published on Tuesday a package of rules to standardise the sector's approach to whistleblowing as part of efforts to stamp out misconduct which has tarnished the industry. 

PHOTO: REUTERS

OCT 6, 20156:32 PM

[LONDON] Britain's financial watchdog published on Tuesday a package of rules to standardise the sector's approach to whistleblowing as part of efforts to stamp out misconduct which has tarnished the industry.

"These rules aim to encourage a culture in which individuals raise concerns and challenge poor practice and behaviour," the Financial Conduct Authority said in a statement.

"They complement our recent initiatives to reform senior management arrangements and remuneration in the financial services industry." The FCA, in conjunction with the Bank of England's Prudential Regulation Authority, also published a consultation paper on a common approach to how banks obtain references on people they want to hire.

REUTERS