SONIA enquiries, complaints and whistleblowing
For general queries about SONIA, please email email@example.com.
To make a complaint about SONIA, please email SONIAcomplaints@bankofengland.co.uk.
We have established a whistleblowing mechanism to facilitate early awareness of potential misconduct or irregularities relating to SONIA.
Whistleblowing is when an employee reports suspected wrongdoing at work. An employee can report things that are not right, are illegal or if anyone at work is neglecting their duties, including:
- someone’s health and safety is in danger
- damage to the environment
- a criminal offence
- a person not obeying the law
- covering up wrongdoing.
Firms are encouraged to consider setting up appropriate internal procedures which will encourage workers with concerns in relation to the SONIA benchmark to blow the whistle.
If your employer does not have an internal whistleblowing procedure, or if you do not feel able to use it, then contact us on +44 (0) 203 461 8703 during office hours. Alternatively, you can email us at SONIAwhistleblowing@bankofengland.co.uk or write to us at: IAWB Team, PRA CCS, Bank of England, 20 Moorgate, London EC2R 6DA.
Legal protection of whistleblowers
Under UK whistleblowing legislation, workers who make ‘protected disclosures’ have certain protection against detrimental treatment by their employer. While some types of disclosure to us are automatically protected in this way, disclosures relating to SONIA are not currently automatically protected.
However, a disclosure by a worker to a person other than their employer (such as to the Bank of England) can be a protected disclosure if it is carried out using a procedure which the worker’s employer has authorised the individual to use. If you are intending to make a disclosure to us in relation to SONIA, you should consider reviewing your employer’s whistleblowing procedures or consulting your workplace’s whistleblowing champion (if there is one) to determine whether your employer has authorised disclosure to the Bank of England.
Whistleblowing to the Financial Conduct Authority (FCA) in relation to misconduct is treated as a protected disclosure. If you would prefer to whistleblow to the FCA, you can call 020 7066 9200 during office hours. Alternatively, you can email firstname.lastname@example.org or write to: Intelligence Department (ref PIDA), The Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN.
Note that the above is not a comprehensive statement of the law on whistleblowing. If you are in doubt as to your legal position, consider obtaining independent legal advice. Further guidance on whistleblowing is also available from the UK Government.