The Financial Conduct Authority (FCA) has published new data on whistleblowing reports received and closed between January and March 2025. During this period, the FCA received 281 new whistleblowing reports. This marks a slight decrease from 292 in the previous quarter and 298 during the same period in 2024.

The 281 reports contained a total of 752 separate allegations. The most frequently reported allegation was related to compliance, which appeared in 184 cases.

FCA Handles 281 Reports, Protects Identities

Reports were submitted through several channels. The majority, 150, were received via the online reporting form. Other methods included email, with 42 reports, telephone with 41 reports, post with 10 reports, and 27 reports received through other means.

Of the 281 reports received, 181 included contact details for the whistleblower. The remaining 100 reports were submitted anonymously. The FCA emphasised that protecting the identity of whistleblowers is essential and that having contact details can help in follow-up and confidentiality management.

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752 Allegations Filed, FCA Takes Action

The 281 reports contained a total of 752 separate allegations. The most frequently reported allegation was related to compliance, which appeared in 184 cases.

In the same quarter, the FCA closed 468 whistleblowing reports. Of these, 12 resulted in significant action to manage harm. This may have involved enforcement activity, commissioning a section 166 skilled person review, or restricting a firm’s permissions or an individual’s approval.

In 192 cases, action was taken to reduce harm. These actions included writing to firms, conducting visits, requesting information, or asking for attestations of compliance with FCA rules.

In 213 cases, the reports helped inform the FCA’s work but did not lead to direct action. Another 37 reports were not considered to indicate harm but were recorded for possible future use. Fourteen reports were classified under other categories.