Lynne Bernabei & Kristen Sinisi: UK’s Staley Penalty Falls Short for Whistleblower Protections
On Friday, May 11, 2018, Law360 published an article, written by Bernabei & Kabat attorneys Lynne Bernabei and Kristen Sinisi, which discusses a missed opportunity for whistleblower protections in the United Kingdom.
A few months after the United Kingdom’s Accountability and Whistleblowing Instrument of 2015 went into effect, Barclays Investment Bank’s Chief Executive Officer, Jes Staley, engaged in a multinational crusade to unmask a whistleblower. His misconduct served as the first test case under the new whistleblower regime. While the Financial Conduct Authority and Prudential Regulatory Authority’s decision to levy a financial penalty against Staley was unprecedented, it falls short of whistleblower advocates’ demand for top-down corporate change and calls into question the vigor with which the regulators will enforce the new framework.
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