With the exception perhaps of Barclays Bank Chief Executive Jes Staley, organisations generally recognise that whistleblower hotlines are only going to work if the companies sponsoring them actually believe in them, support them, and accept that those people who come forward need to be protected.
Staley committed the cardinal sin of trying to unmask a whistleblower who had the gall to question whether the appointment of one of his close friends to a senior management position was quite in keeping with the bank’s recruitment policy. The United Kingdom’s financial regulators, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), have since told Staley that he can expect a substantial fine, while the bank has already warned that he faces losing a chunk from his bonus, too.
