Whilsteblowing Complaints Reveal Senior Manager Reporting Disparity – 13th June 2019

 

An uptick in whistle-blowing complaints to the Financial Conduct Authority (FCA) has revealed a mismatch between what senior managers were telling the FCA about their banks’ efforts to improve gender diversity and the reality for staff. “Horrifying” whistle-blower notifications over the past year had alerted the regulator to the “truly toxic culture” at some financial firms, said Megan Butler, director of investment and wholesale supervision at the FCA. Butler was responding to a question from Nicky Morgan, chair of the Treasury Select Committee, at its roundtable looking at the impact, 12 months on, from the publication of the Committee’s Women in Finance report. “[The report] has been a really important signalling event…We see a great deal of discussion, and a lot of senior management engagement on this issue. Chief executives voluntarily come and talk to me about diversity and inclusion polices, all of which is great.
Lindsey Rogerson, Regulatory Intelligence