Whistle blowing procedure | Template for FCA authorised firms

XYZ Firm whistle blowing procedure

We aim to develop a culture of openness. Consequently, it is fundamental that any concerns which you may have about suspected malpractice within the XYZ are aired. It is clearly in all our interests to ensure that any malpractice does not occur.

To this end, we have devised a policy and procedure to cover the airing of
genuine concerns which you may have about suspected malpractice within the organisation.

The policy and procedure is intended to conform to the guidance in the Public Interest Disclosure Act 1998 (PIDA). PIDA encourages you to raise concerns internally in the first instance.

Policy

This applies to all permanent and short term employees of the XYZ. It also applies to secondees, external consultants, contractors and agency personnel whilst at the XYZ.

Malpractice includes (but is not confined to):

• conduct likely to prejudice the standing of the XYZ
• breaches of internal rules and regulations
• criminal offences or breaches of civil law
• endangerment of the health and safety of any person
• environmental damage
• the deliberate concealment of any malpractice

A qualifying disclosure under PIDA is one which, in the reasonable belief of the worker making the disclosure, suggests that one or more of the above has been committed, is being committed or is likely to be committed.

XYZ’s whistle blowing policy and procedure for its staff

PIDA protects you in making a disclosure to the XYZ where the disclosure meets the requirements set out above and is made in good faith.

In raising a malpractice concern, you may assume that only those XYZ staff investigating the malpractice concern will know your identity. There may be circumstances, however, in which we may be required to reveal your identity. If this is the case, we will take all reasonable steps to ensure that you suffer no detriment.

If you raise a malpractice concern, you will be taken seriously and will be treated fairly and justly by XYZ. We will take all reasonable steps to ensure that no person under our control engages in victimisation in any form.
Disciplinary action will be taken against anyone deliberately raising false and malicious allegations.

Procedure

1. If you have a malpractice concern, you should inform your Manager. Your Manager will then raise the matter with the HR Manager and Managing Director. If the concern involves your Manager, or for any reason you would prefer them not to be told, you may raise the matter directly with the HR Manager.
2. If you feel you need to take advice before doing so, you may contact the independent charity, Public Concern at Work on 020 7404 6609 or email whistle@pcaw.org.uk They provide free, confidential legal advice on whistle blowing matters. But remember that there is no “gateway” to allow you to disclose any confidential information to them.
3. If you have disclosed your worry internally and you are concerned either by the response or lack of response, or if you feel unable to talk to anyone internally for whatever reason, you can contact the Financial Conduct Authority. Their dedicated whistle blowing telephone number is 020 7066 9200 and their e-mail address is whistle@fca.org.uk Letters can also be sent to:
   Enforcement and Financial Crime Division (Ref PIDA)
   Financial Conduct Authority
   25 The North Colonnade
   Canary Wharf
   London
   E14 5HS
4. Investigation: the HR Manager will conduct a full investigation with the objective of establishing whether malpractice has occurred. The format of the investigation may vary depending upon the circumstances.
5. Findings: the HR Manager will communicate the findings of the investigation to:
   • you as the person raising the malpractice concern;
   • the individual(s) under investigation; and, if appropriate those members of XYZ management or external authorities who need to consider whether action should be taken on the basis of the findings.