Legal & General Investment Management (LGIM) has been reported to the regulator by a number of its employees under whistleblower rules amid claims of a risk culture reaching "crisis levels" and a series of compliance failures, according to reports.
According to the Financial Times, at least three LGIM employees have said there are issues with the firm's risk culture which starts with senior management. The complaints were all submitted to the Financial Conduct Authority (FCA) against LGIM, which runs $1trn in assets under management for clients, in recent weeks under whistleblower rules. One of the whistleblowers said in his complaint: "I feel obligated to report these issues now because I feel the risk culture of LGIM has become so toxic that it is reaching a crisis level. "Investors in Legal & General and LGIM products, man...
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