Context
The FCA has published its Q4 2025 whistleblowing data, which shows the number of new whistleblowing reports it received between October and December 2025, and the existing reports closed during this period.
Key points to note
In this quarter, the FCA received 281 new whistleblowing reports. For the same period in 2024 the team received 292 reports. In Q3 2025 (July to September), the FCA received 405 reports.
- The majority of reports are still made via the FCA’s online reporting form, or by e-mail.
- Two thirds of whistleblowers chose to share their contact details with the FCA, with one third remaining anonymous.
- The 281 reports received in Q4 contained 788 allegations in total, with the following top five:
- Compliance – 109
- Fitness and propriety – 99
- Culture – 67
- Systems and controls – 58
- Consumer detriment – 45
The FCA closed 282 whistleblowing reports between October and December 2025.
- Significant action to manage harm in 9 reports (3%) (e.g., enforcement action, a section 166 skilled person report, or restricting a firm’s Permissions or an individual’s approval).
- Action to reduce harm in 96 reports (34%) (e.g., writing to or visiting a firm, asking a firm for information, or asking a firm to attest to complying with FCA rules).
- 164 reports (58%) informing the FCA’s work, including harm prevention, but no direct action.
- 13 reports (5%) not considered indicative of harm, but the information was recorded and will be available for future reference.