Report Reveals 23% Increase In FCA Whistleblower Calls More Than 4,700 Calls To Hotline Across Past Year 21.11.2013 The number of calls to the Financial Conduct Authority's (FCA) specialist hotline for the reporting of concerns over malpractice within the sector has risen by 23 per cent, according to new research. Figures obtained by City law firm RPC revealed 4,718 calls were made to the ‘whistleblower hotline’ in the 12 months to the end of August 2013, which marked an increase from the figure of 3,834 in the previous 12 months. It was also shown that the number of calls made across 2010-11 reached 3,828, which led to suggestions that a change in attitude across the sector has been reflected in the statistics for the most recent period. The FCA has numerous sanctions available to it in order to challenge misconduct, including the prohibition of activities, fines for those found to be in breach of rules, and criminal prosecutions related to financial crime. News of the figures has come after a review by the FCA suggested many asset management firms and fund administrators do not have effective measures in place to tackle money laundering or corruption risks. Expert Opinion The increase in calls to the FCA’s whistleblowing service over the past 12 months is an interesting development which perhaps indicates that the difficulties in the financial services sector in recent years is leading to a change in attitude across the industry. "If individuals are calling the FCA whistleblower hotline, it would be interesting to know if they are also reporting these concerns internally within firms they work in." Sarah Wallace, Partner Key contact Sarah Wallace Partner +44 (0)780 889 9657 Email Sarah Press contact Dave Grimshaw Press Officer 0114 274 4397 Email Dave Tags Business Investigations and Prosecutions Sarah Wallace London Related articles 20.03.2019Government Issues Recommendation for Leasehold Reform 15.03.2019Irwin Mitchell Recruits Hundreds Of Volunteers For Red Nose Day 2019 15.03.2019Irwin Mitchell Scoops Hat-trick At Birmingham Law Society Legal Awards 13.03.2019Sheffield City Region Launches Global Innovation Corridor At MIPIM 2019 08.03.2019Irwin Mitchell Launches Women in Law Timeline 05.03.2019Does A Rest Break At Work Have To Be Continuous?