Whistleblowing in deposit-takers, PRA-designated investment firms and insurers

Supervisory Statement 39/15

Update 4 July 2018

This SS has been updated to reflect changes in terminology as a result of the publication of Policy Statement 15/18 ‘Strengthening individual accountability in insurance: Extension of the Senior Managers and Certification Regime to insurers’.

Overview

This supervisory statement applies to the relevant firms (deposit-takers with assets greater than £250 million, PRA-designated investment firms and insurers - meaning insurance and reinsurance firms within the scope of Solvency II - and to the Society of Lloyd’s and managing agents), but also to individuals working in the financial services sector. It will also be of interest to a wider range of firms that may wish to comply voluntarily. This statement sets out the expectations of the PRA on how firms should comply with the PRA’s rules on whistleblowing.

This statement is intended to be read together with the rules contained in the Solvency II Firms: Whistleblowing and CRR Firms: General Organisational Requirements Parts of the PRA Rulebook. Readers may also find it helpful to read this statement alongside PRA Policy Statement 24/15 published on 6 October 2015.

This statement sets out the expectations of the PRA for firms in relation to the:

  • whistleblowing procedures;
  • training; and
  • whistleblowers’ champion. 
Date of publication  Supervisory statement  Update detail  Effective from 
Current version
6 October 2015  PDFSupervisory statement 39/15   6 October 2015 
Future version
4 July 2018 PDFSupervisory statement 39/15 UPDATE - July 2018 Updated following PS15/18 ‘Strengthening individual accountability in banking and insurance: amendments and optimisations’ 10 December 2018 
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