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Lord Harrington appointed chair of UKREiiF advisory group
Former Conservative minister to advise on key growth areas for organiser of popular industry event.
The post Lord Harrington appointed chair of UKREiiF advisory group appeared first on Property Week.
Combination of the companies would create portfolio of 29 community shopping centres and 13 retail parks across the UK and Northern Ireland.
The post NewRiver agrees £147m takeover of CapReg appeared first on Property Week.
The Financial Conduct Authority has cleared its chair of whistleblowing wrongdoing following an internal review.
The whistleblower sent emails to Alder in December and March to raise concerns over “opaque hiring practices” at the FCA.
However, Alder reportedly forwarded the whistleblower’s correspondence, revealing their identity without their consent, which goes against the regulator’s policy.
The whistleblower told the Financial Times that they were left “angry, stunned and speechless” when they saw the forwarded emails unredacted.
They called the breach “institutional betrayal” and accused the FCA of “incompetence and incapability”.
A second former FCA employee also made a similar allegation as to the handling of their whistleblowing communication to the chair.
Following the FT report, the FCA launched an internal review to investigate the complaints.
The board’s senior independent director, Richard Lloyd, led the internal review of the handling of the two individuals’ whistleblowing communications by the chair.
Lloyd concluded that “while the FCA’s chair did not follow our existing policy to the letter in handling two complex cases, he had sought to ensure the concerns raised, if appropriate, were acted on”.
“The FCA’s chair, Ashley Alder, therefore consulted senior colleagues confident they would treat the information with the utmost care,” he added.
He also said the chair “reasonably took the view that he was providing information of which those colleagues were already aware”.
Alder welcomed the review findings, insisting that he acted appropriately.
He said: “These were unusual and complex cases involving two employees who had left the FCA some years ago and who have raised a range of issues over an extended period of time, in one case through multiple public channels.
“I wanted to ensure that, as non-executive chair, I was in the best position to act on the concerns of both individuals.
“To do so, I needed to consult an extremely limited number of senior colleagues and, while I did not follow the policy to the letter, I knew that they would treat all information with utmost care, and there would be no risk of prejudice to the individuals involved.”
Simon Morris, a financial services partner with law firm CMS, said: “The FCA chair twice disclosed the identity of whistleblowers to colleagues when seeking help to respond. He thought this wouldn’t harm the whistleblowers, and that their names were already known.
“The Lloyd review concludes that this ‘did not follow to the letter’ – meaning breached – the FCA whistleblowing policy, but that the chair was acted reasonably.
“It will be interesting to see if the FCA takes a similarly benign view if a bank chairman reveals a whistleblower’s identity in analogous circumstances.”
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The Philippines’ DOST-ASTI introduced blockchain, NFTs, and crypto to youth, with a focus on real-world applications, fostering innovation for the future.
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