John McDonnell has called for an independent investigation into the Financial Conduct Authority’s handling of whistleblowers following the death of Simon Andriesz.
The Labour MP for Hayes and Harlington chairs the All-Party Parliamentary Group on Investment Fraud and Fairer Financial Services, which has asked the regulator to fund an independent examination.
McDonnell said people reporting suspected wrongdoing played an essential role in financial regulation and needed confidence that their concerns would be taken seriously.
The group wants an organisation without conflicts of interest to examine the FCA’s approach. It said it would consider gathering evidence from whistleblowers itself if the regulator declined.
The FCA has appointed non-executive director Lea Paterson to review its interactions with Andriesz and identify lessons. A spokesperson expressed condolences to his family and friends.
McDonnell argues that scrutiny should be independent of the organisation whose conduct is being examined.
The intervention is a call for further investigation, rather than a finding establishing responsibility for Andriesz’s death.
