AFB Practice Roundtable: How to Manage an Effective Whistleblowing Process

How firms respond to and manage concerns raised through whistleblowing channels is a topic of regulatory focus.  This roundtable, in partnership with Linklaters LLP, will discuss the rules and guidance relevant to conducting an effective whistleblowing process, taking account of both employment law and UK regulatory requirements.

Members will hear insights from Linklaters’s Financial Regulation and Employment teams on how to distinguish whistleblowing from a grievance, as well as look at issues commonly arising in the context of whistleblowing investigations, including anonymity, non-retaliation, legal privilege, reporting and governance.

Why attend?

It is in the overall interest of the financial services industry and regulators that wrongdoing is identified and addressed promptly. It is vital that firms have in place adequate policies to manage whistleblowers and that a senior manager takes responsibility for overseeing these policies.

This roundtable will provide members with an opportunity to discuss areas of focus or uncertainty, drawing upon their own experience of handling whistleblowing cases at their firms. AFB will circulate an agenda and series of questions to attendees in advance which will be used to aid discussions.

The Chatham House Rule will apply to this event to encourage open dialogue and discussion.

There will be refreshments and networking from 08:30 before the roundtable discussion commences at 09:00.

Please note that capacity for the roundtable is limited to 30 members and one person per member bank.

What will members gain for use at their bank?

• An understanding of the legal and regulatory framework relevant to handling whistleblowing concerns
• Insights into how to deal and manage effectively with potential whistleblowing concerns

Who should attend?

This roundtable is aimed at those who work within Compliance, People and Legal teams.

Facilitators

Nik Kiri, Financial Regulation Partner, London

Nik is a partner in the Financial Regulation Group in London.  He has extensive experience of advising banks, broker-dealers, insurers, asset managers, wealth management firms and listed companies on regulatory and compliance matters, with a particular focus on contentious regulatory and compliance risk management issues. 

Nik’s contentious regulatory experience includes conducting internal investigations and reviews following the discovery of suspected compliance failures; assisting clients in managing section 166 skilled persons’ reviews; advising clients in relation to managing communications with regulators; representing clients in FSA/FCA investigations and enforcement proceedings (including representing clients before the Regulatory Decisions Committee, in the Upper Tribunal and in the higher courts); advising clients in relation to the development and implementation of past business reviews and redress/remediation programmes; and assisting clients in managing civil litigation risks arising out of regulatory failings.

Nik also regularly advises clients on compliance risk management issues, including advice on the practical implications of regulation for their business practices and governance arrangements, and strategies for mitigating and managing regulatory and conduct risks.  Nik’s work in this area covers a diverse range of topics, from senior management responsibility, governance and risk management frameworks to conflicts of interest, insider dealing, market abuse, client money, fair treatment of customers, complaint handling and other conduct of business issues. Nik also regularly advises listed companies, corporate brokers and sponsors in relation to the disclosure and control of inside information, the sponsor regime and other Listing Rule/DTR compliance matters.

Clare McMullen, Financial Regulation Partner, London

Clare is a barrister specialising in contentious financial regulation, having joined Linklaters as counsel from the Enforcement Division of the UK’s Financial Conduct Authority.

Her experience includes advising banks, insurance companies and asset managers on FCA and PRA enforcement investigations, the UK senior management and certification regime (SMCR) and anti-money laundering (AML) obligations. Investigations where she has played a leading role have covered a range of subjects including prudential issues, market conduct, treating customers fairly, and systems, controls and governance. Her matters often involve managing the risks associated with parallel proceedings against firms and individuals or in multiple jurisdictions.

She has particular expertise in the conduct of skilled persons reviews under s166 FSMA, leading delivery of such a review and assisting firms with their response to reviews conducted by others.

Prior to joining Linklaters, Clare spent ten years within the Enforcement and Market Oversight Division of the Financial Conduct Authority. During that time she led some of the regulator’s most high profile enforcement investigations, many with an international element.

Rachel Morgan, Managing Associate, London

Rachel is a managing associate in the employment practice at Linklaters.

She has more than 10 years experience covering a full range employment advisory, contentious, and transactional matters. She regularly advises on the employment aspects of multinational corporate transactions including public and private mergers and acquisitions, intra-group restructurings, complex restructurings, and outsourcings.

She has experience of disputes in the Employment Tribunal, High Court and Court of Appeal and also a broad range of advisory matters, including senior hires and terminations and sensitive whistleblowing investigations. She has particular expertise in regulatory employment matters and has extensive experience advising institutions on the SMCR and employment aspects of regulatory investigations and regularly delivers training for financial services firms on conduct issues, regulatory references and whistleblowing. Rachel has also undertaken a number of secondments to the in-house legal and HR teams, providing her with a valuable understanding of the challenges faced by clients.

Logistics

Fee:        Included in AFB membership (no fee)

Format:    In person at Linklaters, One Silk St, London EC2Y 8HQ

Date:        Thursday 28 November 2024

Time:        09:00 – 10:30 (Arrival and refreshments from 08:30)

If you would like to submit a question before or have any specific questions or areas that you would like the session to address, please email secretariat@foreignbanks.org.uk. You will receive the joining instructions for this in-person roundtable a week before the event.