The FCA dealt with 900 intelligence cases overall from whistleblowers, including 119 from financial advisers, four from building societies, 155 consumer credit and 60 in the retail banking sector.
However the number of whistleblowing cases has continued to fall, down from 1,014 the previous year and 1,340 in 2014/15.
Intelligence has triggered enforcement investigations, skilled persons reviews, conduct visits to firms and in-depth reviews and assessments on issues such as money laundering.
The FCA does not have a target for the cases, and said it aims to ensure those who report on a previous or current employer are treated sensitively and professionally.
On the decrease in cases, the FCA said: “We believe that whistleblowers are more aware of the reporting mechanisms in their firms, and so are reporting internally first.”
Of the 900 cases reported, seven directly contributed to enforcement or other action, 159 provided significant value, 259 may be of value but are not actionable, with 48 of little value.
A further 427 cases have yet to be fully assessed as they may require follow up work. In over 100 cases, information was shared with external bodies such as police forces and HMRC.
During the year, the regulator said it has implemented a new case management system for whistleblowing, benchmarked its approach and reinforced staff training to recognise when an offer of information is whistleblowing and improve interviews with whistleblowers.
