Prudential Regulation Authority Rulebook

2.1

A firm must establish, maintain and implement appropriate and effective arrangements for the disclosure of reportable concerns by a person, including a firm’s employee, internally through a specific, independent and autonomous channel.

2.2

The channel in 2.1 may be provided through arrangements with third parties, including social partners, subject to any applicable requirement in Conditions Governing Business 7.

2.3

A firm must inform all workers of the channel referred to in 2.1.

2.4

A firm must inform all workers:

1. (1) that they may disclose directly to the PRA or to the FCA anything that would be the subject-matter of a protected disclosure;
2. (2) of what could constitute a protected disclosure;
3. (3) that the PRA and the FCA are prescribed persons under section 43F of the Employment Rights Act 1996 and the effect of making a protected disclosure to the PRA or to the FCA; and
4. (4) of the means available to make a protected disclosure to the PRA or the FCA.

2.5

A firm must ensure that nothing in its arrangements prevents or discourages any worker from making any disclosure to the PRA or the FCA before making the disclosure through the channel referred to in 2.1.

2.6

A firm must ensure that nothing in any employment contract or settlement agreement, including any other related or ancillary documentation, between the firm and a worker relating to the worker’s employment with the firm, entered into after the date on which these rules come into effect, prevents or discourages the worker from:

1. (1) making a protected disclosure, including to the PRA; and
2. (2) making a further protected disclosure connected to a protected disclosure already made under (1).