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Home > Prudential Regulation Authority > Whistleblowing in UK branches – CP35/16

Whistleblowing in UK branches – CP35/16

28 September 2016


In October 2015 the Prudential Regulation Authority (PRA) published PS24/15 ‘Whistleblowing in deposit-takers, PRA-designated investment firms and insurers’ in which it introduced requirements for UK deposit-takers, PRA-designated investment firms and Solvency II insurers to formalise whistleblowing practices. These rules built on best practice to ensure that workers have the opportunity to safely raise any concerns that they have.

This PRA consultation paper (CP) proposes amendments to PRA rules to require UK branches of non-EEA deposit-takers and both EEA and non-EEA insurers, including reinsurers, to inform workers about the PRA and the Financial Conduct Authority’s (FCA) whistleblowing services. It also proposes requirements for non-EEA banking groups with both UK branches and subsidiaries. The proposals in this CP do not apply to UK branches of EEA deposit-takers.

The Parliamentary Commission on Banking Standards (PCBS) recommended that banks put in place mechanisms to allow their employees to raise concerns of risk and wrongdoing internally (‘whistleblowing’) in its final report in June 2013. The PCBS also recommended that banks assign responsibility for overseeing the effectiveness of these arrangements to a senior person. Firms have had this responsibility since the introduction of the Senior Managers regime and Senior Insurance Managers Regime on 7 March 2016. The FCA has published a consultation with similar proposals (see External Links). 

The proposals contained in this CP have been designed in the context of the current UK and EU regulatory framework. The PRA will keep the policy under review to assess whether any changes would be required due to changes in the UK regulatory framework, including those arising once any new arrangements with the European Union take effect.

Summary of Proposals

The policy proposals included in this CP require:

  • UK branches of non-EEA banks and of both EEA and non-EEA insurers to inform their workers about the FCA and PRA’s whistleblowing services; and
  • any non-EEA banking group with both a UK branch and UK subsidiary which is subject to our whistleblowing rules, to inform the staff of the branch of the subsidiary’s whistleblowing arrangements. This proposal does not apply to insurers.


We expect that final rules that we are consulting on in this CP will come into force in September 2017.


This consultation closed on Monday 9 January 2017. The PRA invites feedback on the proposals set out in this consultation. Please address any comments or enquiries to

Consultation Paper

Whistleblowing in UK branches – CP35/16