Context
The FCA has published its quarterly Whistleblowing data covering January to March 2025, showing the numbers of new whistleblowing reports received and existing reports closed during this period. The data shows how the FCA received the reports, what the reports were about, and what level of action the FCA has taken. In addition, the FCA has published a new web page, seemingly aimed at potential whistleblowers, containing information relevant to making a whistleblowing notification to the FCA.
Key points to note and next actions
- In this quarter, the FCA received 281 new whistleblowing reports. For the same period in 2024 the team received 298 reports, and in the previous quarter (Q4 2024 – October to December), it received 292 reports.
- The majority (150 – 53.3%) were received via the online reporting form.
- 64% of whistleblowers were happy to share their identity, with 36% remaining anonymous.
- The 281 reports received contained a total of 752 allegations, the most common of which were in relation to compliance (184) and fitness and propriety (139).
- The FCA closed 468 whistleblowing reports between January and March 2025, taking significant action to manage harm in 12 reports (2.6%), or action to reduce harm in 192 reports (41%).
The new Whistleblowing web page contains information about who can make a whistleblowing report, how to make a whistleblowing report, preparing a report, what happens when a whistleblower contacts the FCA, how the FCA handles reports, and what the FCA can and cannot do.