Key facts
- UK MPs are calling for an investigation into the Financial Conduct Authority (FCA) after whistleblower Simon Andriesz died.
- Andriesz, a former BGC Partners employee, raised concerns about links between Howard Lutnick and Jeffrey Epstein.
- Andriesz's family confirmed he died by suicide on September 23 in Thailand.
- MPs stated Andriesz's death raises "deeply troubling questions" about the FCA's treatment of whistleblowers.
- Andriesz alleged that BGC Partners sought to "buy a prince" by offering a business venture with Prince Andrew.
- Andriesz also alleged "embezzlement" of commission money at BGC Partners, which the firm denies.
UK lawmakers are demanding an investigation into the Financial Conduct Authority (FCA) following the death of Simon Andriesz, a former senior employee of BGC Partners. Andriesz had raised concerns with multiple watchdogs, including the FCA and the FBI, about evidence he uncovered suggesting business links between financier Howard Lutnick and the late sex offender Jeffrey Epstein. These allegations cast doubt on Lutnick's public statements regarding his associations.
Andriesz died last month in Thailand, with his family confirming he took his own life on September 23, and stating there was no suggestion of foul play. A group of UK Members of Parliament have voiced that his death raises "deeply troubling questions" about how whistleblowers are treated by the FCA when they come forward with concerns about wrongdoing and potential retaliation.
Among the evidence Andriesz submitted was an allegation that Lutnick sought to "buy a prince" by offering a business venture with Prince Andrew in 2013, in exchange for a loan. BGC Partners told the BBC that this proposed joint venture did not proceed. Andriesz also alleged that cash from the pool of commission money set aside for brokers' bonuses was "embezzled" for improper purposes, an allegation BGC has denied.
Weeks before his death, Andriesz had spoken at a public event, stating he felt "thoroughly let down" and had endured "absolute hell" from the FCA. He accused the regulator of inaction regarding serious allegations he had made as early as 2018 and claimed their conclusion of "insufficient evidence" of retaliation made it harder to pursue a claim against BGC at a tribunal.
John McDonnell, a Labour MP and chair of the All-Party Parliamentary Group on Investment Fraud and Fairer Financial Services, described Andriesz's death as a "profound and preventable tragedy," emphasizing the importance of whistleblowers and the integrity of the financial regulatory system. The MPs have called for the FCA to fund an independent evaluation of its handling of whistleblower cases.
In response, the FCA stated it was appointing Lea Paterson, a former Bank of England director, to its board to conduct a review into its interactions with Andriesz and to identify lessons for the future. An FCA spokesperson expressed condolences to Andriesz's family and friends.