UK unveils rules on whistleblowers and references

Britain’s financial watchdogs yesterday unveiled rules to help whistleblowers in the banking and insurance sectors. They also made proposals to tighten up how banks and insurers obtain references on potential hires.

The 2007-2009 financial crisis prompted policy makers in Britain to call for a system that makes it easier for staff to raise concerns internally.

The regulators also want to make it harder for bankers involved in misconduct to find a job with another bank.