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UK Regulators to Reconsider Ban Against Whistleblower Payments

By Paul Peachey

The U.K. Financial Conduct Authority will review its decision not to compensate whistleblowers from the financial services industry after a lawmaker complained the agency repeatedly fails employees coming forward to expose wrongdoing at their institutions. The FCA three years ago ruled out paying whistleblowers for incriminating data, claiming that a U.S.-style rewards system could undermine enhanced corporate reporting requirements that took effect in September. An FCA fact-finding mission to the United States in 2014 found no evidence that payments to whistleblowers had increased the number or quality of tipoffs. Despite the agency's clear rejection of the plan, Home Office Minister...

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