UK Introduces Whistleblower Rules For Banks And Insurance Companies

How a firm deals with complaint handling and "whistleblower" reporting remains an ongoing challenge for directors, executives and the in-house counsel who advise them. Increasingly, firms are expected to create a safe environment for employees, suppliers, contractors and customers who report potential misdeeds, and to appropriately and effectively address relevant information received. Managing these disclosure programs often falls to compliance officers and legal counsel in regulated industries, as part of their ongoing and frontline role in promoting a "culture of compliance" within the workplace.

The UK's Financial Conduct Authority is the most recent regulatory authority to impose...