Previously in Financial Regulation Matters we have discussed the issue of whistleblowing, mostly in relation to the case of Barclay’s CEO Jes Staley ( here and here ). We know that the FCA faced criticism for not suspending Staley in that case, so today’s news that the regulator are looking into the conduct of Royal Bank of Canada (RBC) has brought the issue to the forefront once more. In today’s post we will review this news and look at what whistleblowing actually means, and its ‘function’ in a much broader sense. The case with RBC has accelerated after a former trader recently won his case against the bank for unfair dismissal. The claim, relating to the trader’s revelations regarding the ‘box-ticking’ culture that was/is prevalent within the firm , concluded with the judge describing the bank’s conduct as ‘egregious’ and that, ultimately, ‘employers should take better care of whistleblowers even if they find them somewhat enervating’. Whilst the FCA has not confirmed the

Today’s post looks at the developing story of Barclays’ CEO Jes Staley, who is currently facing hundreds of the company’s shareholders in their AGM. Staley, only in the position for two years, is facing calls for his resignation because he, self-admittedly, attempted on two separate occasions to uncover the identity of an internal whistle-blower who had made allegations against a newly hired executive in the U.S. This shortened post will briefly look at this unfolding story, including some other elements that are not helping Mr Staley’s reputation, and then ask what the result of this AGM may mean for the socially important role of the whistle blower. In 2016, Tim Main, a close friend of new Barclays CEO Jes Staley from their time together at JP Morgan , was hired for a senior position within Barclays’ American operations. Shortly afterwards, two complaints were brought forward against Mr Main and, in response, Mr Staley approached the Internal Head of Security to uncover the i