Skip to main content
CLOSE

Charities

Close

Corporate and Commercial

Close

Employment and Immigration

Close

Environmental, Social, and Corporate Governance

Close

Fraud and Investigations

Close

Individuals

Close

Litigation

Close

Planning, Infrastructure and Regeneration

Close

Public Law

Close

Real Estate

Close

Restructuring and Insolvency

Close

Energy

Close

Entrepreneurs

Close

Private Wealth

Close

Real Estate

Close

Tech and Innovation

Close

Transport and Infrastructure

Close
Home / News and Insights / News / Barclays boss fined £642k for whistleblowing scandal

In a first case under the Senior Managers Regime, the Financial Conduct Authority and the Prudential Regulation have fined the CEO of the Barclays Group £642,430 for failing to act with due skill, care and diligence by attempting to identify the author of an anonymous whistleblowing letter. They have also put special requirements in place for Barclays to comply with to protect whistleblowers in the future.

If an individual does not treat a report of poor practice or misconduct confidentially, tries to supress the disclosure or seeks to find out who an anonymous whistleblower is, they could face claims for detriment. If they are regulated, they may also face substantial fines and the imposition of special requirements.

Those who receive and investigate a disclosure should also comply with internal policies, check if there are any conflicts of interest and exercise impartial judgment.

Whistleblowers are protected from suffering a detriment or being dismissed because of the disclosure and can claim against individual managers as well as the company.

As in this case, there may also be interventions from financial regulators.

Related Articles

Our Offices

London
One Bartholomew Close
London
EC1A 7BL

Cambridge
50/60 Station Road
Cambridge
CB1 2JH

Reading
The Anchorage, 34 Bridge Street
Reading RG1 2LU

Southampton
4 Grosvenor Square
Southampton SO15 2BE

 

Reading
The Anchorage, 34 Bridge Street
Reading RG1 2LU

Southampton
4 Grosvenor Square
Southampton SO15 2BE

  • Lexcel
  • CYBER ESSENTIALS PLUS

© BDB Pitmans 2024. One Bartholomew Close, London EC1A 7BL - T +44 (0)345 222 9222

Our Services

Charities chevron
Corporate and Commercial chevron
Employment and Immigration chevron
Environmental, Social, and Corporate Governance chevron
Fraud and Investigations chevron
Individuals chevron
Litigation chevron
Planning, Infrastructure and Regeneration chevron
Public Law chevron
Real Estate chevron
Restructuring and Insolvency chevron

Sectors and Groups

Private Wealth chevron
Real Estate chevron
Transport and Infrastructure chevron