Tue, Mar 12, 2019

Mark Turner Talks About How SMCR Could Push Whistleblowing Complaints

Mark Turner, Managing Director in the Compliance and Regulatory Consulting practice at Duff & Phelps, spoke to FT Adviser about what the Senior Managers and Certification Regime (SMCR) could mean for whistleblowing complaints within the financial services industry.

Mark said, "The new regime itself will make it riskier for individuals to ignore something that doesn't look right, and if they do, they will be putting themselves at risk under the enforcement rules. This will be the biggest point, as the Financial Conduct Authority (FCA) has intentionally designed this regulation to make people think twice about issues within a company. On a smaller basis, SMCR will educate individuals, including senior managers and others within a business, as to what is expected of them, and may lead to an increase in whistleblowing cases."

Read the full article here.