Financial Services Authority pays out £148,500 in bullying and harassment settlements

The Financial Services Authority (FSA) has paid out £148,500 in out-of-court settlements to staff who complained about bullying and harassment.

The City’s watchdog made the payments to four employees who took their claims to the Employment Tribunal Service between 2008 and 2009.

A Freedom of Information request has revealed the FSA has been taken to an employment tribunal by seven members of staff over the two-year period.

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The watchdog also currently has two ongoing tribunal cases, Citywire has reported.

A previous request found FSA employees had made eight complaints of bullying, harassment and racial discrimination in 2009, of which all but one were directed at the organisation’s managers.