Whistleblower Royal Bank of Scotland escapes Libor fine

Royal Bank of Scotland has escaped €115m of fines for alerting the European commission’s competition watchdog to two attempts to fix the prices of key interest rates.
RBS, which is 81%-owned by the taxpaer, was fined £390m last year for manipulating Libor by regulators in the US and the UK. It was given immunity from one €110m fine after telling the commission it had tried to influence Swiss franc interest rates with JP Morgan. The Wall Street bank was fined […]

FCA Reports Surge in Useful Tips From Whistleblowers

The figure provides a boost for the regulator, which last year came under fire from a report by the Parliamentary Commission on Banking Standards that criticized the FCA’s handling of whistleblowing. The report said the commission had received evidence from whistleblowers that “demonstrated a lack of confidence in the regulator’s willingness and ability to support them and to act upon their concerns.”
The report made a number of recommendations, including that the FCA provide feedback to whistleblowers—a policy that the […]

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Whistleblower reveals errors in Barclays PPI calculations

Barclays has launched an investigation after a whistleblower warned of serious errors in the way taxation of interest paid to those handed payment protection insurance compensation is being calculated by the bank.

Barclays confirmed the inquiry in the wake of allegations tabled by a former contractor, Charlie Boyle, who has alerted the Financial Conduct Authority’s whistleblowing hotline to the issues.

Mr Boyle, who was a team leader handling financial reconciliations – or making the numbers add up – said his department […]

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