UK regulator FCA to investigate how it handled Epstein whistleblower who took his own life

British banker Simon Andriesz helped to expose alleged ties between late sex offender Jeffrey Epstein and US commerce secretary Howard Lutnick

A top UK regulator has launched an investigation into how it handled a whistleblower – who highlighted alleged ties between the late sex offender Jeffrey Epstein and the US commerce secretary, Howard Lutnick – after he took his own life.

Andriesz had formerly worked as a managing director at BGC Group, the financial brokerage where Lutnick had been chief executive. He had accused the Financial Conduct Authority (FCA) of failing to hold his former employer to account for alleged wrongdoing, and had been wrongly told he did not qualify for whistleblower protection.

The banker had spent years raising concerns about his former employer: first in regards to accounting irregularities – which he raised internally at BGC in 2016, a year before he was sacked – and then in 2020-21, when he reportedly told the FBI that Lutnick had undeclared business ties with the late sex offender Jeffrey Epstein. Lutnick has since said he had no “personal or professional relationship” with Epstein.

However, Andriesz told the BBC’s File on 4 Investigates this summer that authorities in the US and UK had failed to hold BGC and its parent company, Cantor Fitzgerald, properly to account, or protect him from potential retaliation. He also later accused the FCA of mistreating whistleblowers, and raised concerns about the toll that whistleblowing had taken on his family, career and health.

The FCA confirmed it had now tasked a new board member to investigate how staff handled Andriesz’s concerns. “We are very sorry to hear of Mr Andriesz’s death,” an FCA spokesperson said. “Our thoughts are with his family and friends. Since expressing our condolences, we’d asked Lea Paterson, who has just joined our board as a non-executive director, to review how we interacted with Mr Andriesz to learn any lessons for the future.”

The APPG’s chair, the Labour MP John McDonnell, said: “It is vital that this time a truly independent and non-conflicted organisation carries out the work needed. If the FCA refuses to respond positively, the APPG will consider all alternatives, including conducting its own call for evidence from whistleblowers who have interacted with the regulator.”

A BGC spokesperson said: “BGC has long disputed Mr Andriesz’s allegations but does not intend to relitigate these matters at this sad time. BGC is sorry to hear this tragic news and expresses our condolences to Mr Andriesz’s family.”

In the UK and Ireland, Samaritans can be contacted on freephone 116 123. In the US, you can call or text the National Suicide Prevention Lifeline on 988, chat on 988lifeline.org, or text HOME to 741741 to connect with a crisis counselor. In Australia, the crisis support service Lifeline is 13 11 14. Other international helplines can be found at befrienders.org