Date released: 16 March 2016
Prior to 1 April 2013 the prescribed regulatory responsibilities of the Prudential Regulation Authority (‘PRA’) and the functioning of clearing houses (including central-counterparties) were the responsibility of the Financial Services Authority. The Bank of England (the ‘Bank’) became responsible for the prescribed regulatory responsibilities of the functioning of inter-bank payment systems and securities settlements systems; and the treatment, holding and issuing of banknotes by the Scottish and Northern Ireland banks authorised to issue banknotes (and their agents) on 1 October 2014.
Whistleblowing under the Public Interest Disclosure Act (‘PIDA’) received by the Bank and the PRA is not restricted to information received from a ‘worker’ and includes contacts from anyone wishing to provide information on a confidential basis. From 1 April 2013 to 17 February 2016 there were 239 external whistleblowing actionable instances dealt with under PIDA in respect of the Bank and PRA’s prescribed regulatory responsibilities. In this context the term ‘actionable’ means that the information came from a whistleblower (a person making a protected disclosure as defined by PIDA), it fell within the remit of our prescribed regulatory responsibilities and was subject to further consideration by the Bank or PRA and other agencies.