Bank of England and United Kingdom's Prudential Regulation Authority publish annual whistleblowing report showing 252 protected disclosures in 2024/25

The Bank of England and the Prudential Regulation Authority (PRA) published their annual report on whistleblowing disclosures received in their capacity as statutory “Prescribed Persons”, covering 1 April 2024 to 31 March 2025. The report records 264 disclosures assessed against the Public Interest Disclosure Act 1998 and relevant statutory requirements, with 252 reasonably believed to be protected disclosures within section 43B of the Employment Rights Act 1996 and within the authorities’ prescribed remit. Twelve disclosures were assessed as not protected, including cases relating to firms outside Bank/PRA regulation, issues outside their remit, individuals not meeting the definition of a whistleblower, and one disclosure lacking sufficient context. All disclosures, whether protected or not, were shared with supervisory colleagues for consideration or information purposes. All protected disclosures were considered for supervision, with 176 originating from the Financial Conduct Authority, 20 submitted to both the PRA and FCA by the whistleblower, 48 submitted to the PRA first and then disseminated to the FCA, and eight retained within the PRA without onward dissemination. Of the 252 protected disclosures, 32 contributed to supervisory activity to manage potential harm, 87 were retained as intelligence for future reference, 57 were assessed as low-value intelligence that did not lead to supervisory activity, and 76 remained under ongoing supervisory assessment.