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ARTICLE · 27 JUNE 2018

Lessons In Responding To Whistleblower Complaints From Recent UK Settlement

McCarthy Tétrault
McCarthy Tétrault
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The UK's Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) recently reached a settlement with the CEO of Barclays Group, James Staley ...

CanadaEmployment and HR
Canadian Securities Regulatory Monitor
Canadian Securities Regulatory Monitor
Shane D'Souza
Shane D'Souza
Rene Sorell
Rene Sorell
Author LinkedIn connections

The UK's Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) recently reached a settlement with the CEO of Barclays Group, James Staley, for failing to "act with due skill, care and diligence" in his response to an anonymous whistleblower complaint.1 The UK regulators' response to Mr. Staley's conduct merits consideration by directors and officers of Canadian public issuers and registrants in light of the broad anti-reprisal provisions in PART XXI.2 of Ontario's Securities Act.

Whistleblowers protections in OSC Regime

For a summary of the current Whistleblower regime of the Ontario Securities Commission (the OSC), see our previous article. Anti-retaliation measures are an important part of that regime.

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