The Bank of England has step↔&βped up its monitoring of LlΩ£≤‍oyd’s of London’s whistleblowing systems₩↕<, the central bank said on Monday, after r★&γαeports this year about ↕ ✘≠;sexual harassment and bullying ©$ε<at the 330-year old insurance market↑&<®.The Prudential Regulation Auth<✘ority (PRA) said the inγ•surance market had ag♥←♥₹reed to extra checks after informin£✔€≠g the regulator its processes had b​≠een ineffective.he PRA said it w☆≥φ♠as first made aware of issues a↓π←≤t Lloyd’s in February when the market to≈₹≈ld the regulator its only anonymous whist☆★leblowing channel for staff had no₹≈t been operational since October 2017.Otherε↔≥ whistleblowing channels were availab♥∞le while the anonymous hotline was₹  down, the PRA said.Lloyd’s al‍ so failed to provide an annual whistleblowing reε&port as expected, the £♠♦σregulator added.Lloyd’s has voluntarily agreed t∑♠↑o additional requirements, includin>∑g enhanced reporting of whistleblowing®  cases and training requirements ®★•for senior staff, th£&e PRA said.Following press reports of w∞§←≠idespread misconduct at Lloyd’s, the mark₩γ∞et published results of a survey in Septemb→♦er that found nearly one in 12 emploΩ•$αyees working in the market had witnesseφ♣d sexual harassment there in t♥©•he past year, while a quarter had witnessed exce×♣α✔ssive drinking.Lloyd’s has trie☆∞€d to improve standar€∑ds of behavior in the market☆™ this year, including int§®"roducing life bans from ≤α ‍its building and a b‍ πφullying and harassment hotlin★®e.The Lloyd’s market emp♠→loys nearly 50,000 people and has 99 syndicate me±φ​mbers offering insurance ∞Ωin specialist areas from ships to sculpturλ←₩↓es.“We are extremely disappointed by this ↕‌↓failure in our internal controls, wh✘♦≥ich serves to remind us all about the nee♥&d for constant vigil‌ ance when it comes to these essentλ≥ial services,” a Lloyd’s spokesman said.↔¶÷“Lloyd’s employees can feel confident that we ∞& now have all the right mechanisms in place for •δ÷them to report any wrongdoing, and that these s'£ystems are regularly monitored.”(Repor‌≥₩ting by Iain Withers; edφ≤₹iting by Louise Heavens and Edmund Bl$Ωair)From:insurance journal →≠©Organizer：China Insurance Digital & A×≤≈I Development 2020Web:httpφ​δ://en.zenseegroup.com/p/560573/±α¶©Contact:Ann 021-65650305