Compliance was the top reason for whistleblowers to complain to the FCA in December, with 41 reports being made to the regulator about the issue during the month.

‘Fitness and propriety’ and ‘compliance’ were the joint top reasons for whistleblowers to complain to the FCA in March.

The FCA is planning a raft of measures to improve support for whistleblowers to give them more confidence in coming forward.

The Financial Conduct Authority has received 2,754 allegations of misconduct including fraud, money laundering and compliance complaints, according to data from the regulator’s annual report and accounts.