The FCA and PRA have recently published new rules on whistleblowing procedures for UK branches which will apply from 7 September 2017.
In October 2015 the FCA and PRA introduced new rules requiring relevant deposit-takers and firms to introduce internal whistleblowing arrangements, but decided to consult first in relation to which aspects of the regime should apply to UK branches of overseas firms. That consultation took place in the autumn of 2016, and the responses and final rules have now been confirmed. These rules supplement the statutory protections all employees and workers have under employment legislation.
UK branches will need to ensure their staff are informed of the option of reporting to the regulators, and given access to the internal whistleblowing arrangements of any UK group company. Staff handbooks or policies will need to be updated by 7 September 2017. See our briefing here for further details.
Key contacts
Steve Bell
Managing Partner - Employment, Industrial Relations and Safety (Australia, Asia), Melbourne
Emma Rohsler
Regional Head of Practice (EMEA) - Employment Pensions and Incentives, Paris
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