UK MPs demand FCA probe after whistleblower Simon Andriesz dies

Simon Andriesz, a former senior trader at BGC Partners, died by suicide last month after revealing evidence that US Commerce Secretary Howard Lutnick had ties to Jeffrey Epstein. MPs have called for a thorough investigation into how the Financial Conduct Authority handled his complaints, alleging retaliation and “absolute hell” at the regulator.

Andriesz had raised concerns in early 2024 with the FCA, the FBI and other watchdogs about evidence linking Lutfnick—who founded and ran BGC Partners before his 2028 U.S. appointment—to Epstein. He claimed the regulator was silent on the matter and that he was subjected to retaliation by BGC and its lawyers.

“I was thoroughly let down and was put through absolute hell,” Andriesz told an event attended by MPs and campaigners last month. The FCA said it had no evidence of retaliation and that its actions were a “slap on the wrist.”

Andriesz’s family confirmed he had taken his own life on 23 September and that there was no suggestion of foul play. MPs have described the death as a “pre‑ventable tragedy” and called for an independent assessment of FCA whistleblower policies.

FCA to review whistleblower treatment

The FCA announced it will appoint Lea Paterson, former Bank of England director and new non‑executive board member, to conduct a review of its interaction with Andriesz and the broader handling of whistleblowing complaints.

“It protects the institution and then exposes the whistleblower to extreme retaliation and devastation,” Andriesz had warned. The FCA’s spokesperson said it was “very sorry” and pledged to learn lessons for the future.

Call for reform

John McDonnell, Labour MP and chair of the All‑Party Parliamentary Group on Investment Fraud, called the death a “profound and preventable tragedy” and urged that whistleblowers be treated properly, protected appropriately, and listened to seriously.

The group of MPs has requested that the FCA pay for an independent evaluation of its whistleblower handling. The review is expected to scrutinise the FCA’s policies, procedures, and communication with whistleblowers like Andriesz.

Andriesz’s allegations also implicated BGC Partners’ former recruitment of a personal assistant to a Sussex family member, further raising questions about oversight at the firm and the FCA’s regulatory reach. More details will emerge as the FCA’s review proceeds, but the incident underscores growing scrutiny of financial regulators’ treatment of whistleblowers.