Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

UK Will Not Offer U.S.-Style Financial Incentives to Whistleblowers

Bruce Carton | August 6, 2014

The UK's Financial Conduct Authority announced last week that after conducting research into whether the UK should offer financial incentives to whistleblowers (as is now done in the U.S. by the SEC and other regulators), it had concluded that doing so would not be advisable. "The research showed that introducing financial incentives for whistleblowers would be unlikely to increase the number or quality of the disclosures we receive from them," the FCA stated in a paper issued jointly last week with the Bank of England Prudential Regulation Authority.

The FCA stated that after reviewing the use of financial incentives by US regulators, it had concluded, among other things, that:
  • such incentives did not benefit the vast majority of whistleblowers;
  • there was no evidence that incentives had brought an increase in the number or quality of disclosures...
    Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.