Ashley Alder, FCA chair, has been accused of revealing the identity of an internal whistleblower despite the regulator's policy to protect their identity.
The chair is accused of doing this by forwarding emails containing the Whistleblowers name, address, and complaints, the FT reports.
The concerns were allegedly over opaque hiring practices, raised by a former employee who was dismissed in 2021 for alleged misconduct.
The FT reports the FCA has launched a second internal audit relating to this whistleblower, to scruitinise their processses for deciding whether allegations of misconduct should be formally internally investigated.
Emails were sent to Alder and Liam Coleman, FCA whistleblowing champion, in December, after the ex-employee felt the concerns they raised via a whistleblower hotline were only partially dealt with. The FCA did not comment to the FT whether the staff who viewed the complaint beyond Alder and Coleman were part of the official whistleblowing team.
The whistleblower's emails stated "PRIVATE — FOR THE ADDRESSEE ONLY" pointing to FCA anonymity policies.
The FT spoke to the whistleblower who said they were "angry, stunned and speechless" at the emails being forwarded. They accused the FCA of "incompetence and incapability".
An FCA spokesperson told the FT they would not comment on the case "since proceedings relating to the individual's employment tribuanal are ongoing".