Regulatory Alerts2016-09-25
Added · Updated
Whistleblowing in UK branches of foreign banks: PS17/7
The Financial Conduct Authority introduces final rules requiring UK branches of overseas banks to inform their UK-based employees about FCA and PRA whistleblowing services and to make available the whistleblowing arrangements of sister or parent companies subject to UK rules. These obligations apply to EEA and third-country relevant authorised persons maintaining branches in the United Kingdom, regardless of the specific financial services activities undertaken. The Accountability and Whistleblowing (No 2) Instrument 2017 amends the Senior Management Arrangements, Systems and Controls sourcebook to implement these requirements, which come into force on 7 September 2017.
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