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There were ten whistleblowing complaints about the Sipp sector in 2014/15, the FCA has revealed.
This put Sipps at number 11 in the table out of 16 sectors. Financial advisers topped the list with 271 cases, while consumer credit was second with 208 and retail banking third with 158.
The way the data is collected it is not recorded whether the whistleblowers worked in that sector too, but it is possible that they were, officials said.

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The regulator processed 1,340 intelligence cases “containing sanitised information from whistleblowers” over the year.
Ten whistleblowing cases have directly contributed to FCA enforcement or the “protection of consumers through other intervention” and a further 172 cases were of “significant value”, the regulator said. It is unclear if these include any of ten Sipp sector complaints.

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The FCA report said that information from whistleblowers has contributed to firms and individuals being fined, permissions being varied or withdrawn, and warning letters being issued. Whistleblowers’ information was also used to inform the FCA supervisory strategy.
An FCA spokesman said: “All whistleblowing complaints are categorised as ‘a case’. We conduct a full assessment of all intelligence provided to us.
“Out of the 1340 whistleblowing cases, 759 have been full assessed and actioned accordingly. The remainder are still under assessment and the cases remain open.
“Assessment can take time depending on the nature and complexity of the case. While every whistleblowing case is fully assessed not every case will lead to an investigation.
“Investigation has a very clearly defined meaning for us – it is where an issue has been referred to our enforcement division and they are formally assessing whether misconduct has occurred and, if so, what is the appropriate sanction.
“As the data made clear, 10 whistleblowing cases have directly contributed to the FCA enforcement activity or the protection of consumers through other intervention. A further 172 cases were of significant value.”
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In 2014/15 an upward trend from recent years continued with a 28% increase on 2013/14. The number of cases has more than trebled over the last five years and highlights the greater importance the FCA has placed on whistleblowing and increased awareness across the sector, the regulator said in its report.

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