Whistleblowers “At Risk of Betrayal” by City Watchdog

The chairman of the Treasury select committee has warned the Financial Conduct Authority that it risks “neglecting the reasonable needs of whistleblowers” after allegations that the City regulator betrayed the confidence of informants. Andrew Tyrie wrote to Tracey McDermott, acting chief executive of the authority, yesterday demanding assurances on how the regulator treated sensitive information given to it by a body representing small businesses. The SME Alliance has accused the authority of passing on evidence that it presented to the regulator in confidence to the high street banks that were the subject of the companies’ complaints. This was first reported.

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