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ARTICLE · 10 DECEMBER 2020

FCA Confirms That Non-Financial Misconduct Is, Actually, Misconduct

Ince & Co
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On 5 November the FCA banned three men convicted of sexual and (in one case) domestic violence offenses from working in the financial services sector ever again.

United KingdomEmployment and HR
Martin Pratt
Martin Pratt

On 5 November the FCA banned three men convicted of sexual and (in one case) domestic violence offenses from working in the financial services sector ever again. To a casual observer it would seem unsurprising that a regulator would find such serious offenses a breach of its 'fit and proper' persons test. Such convictions would almost certainly end the careers of a solicitor or a doctor - but historically the FCA and its predecessors have not been as keen prosecute "non-financial" misconduct with quite the same vigour as those who have been playing fast and loose with a client's money.

The bans meted out to Russell David Jameson, Mark Horsey, and Frank Cochran mark a sea-change. The FCA has been making it clear for some time that its attitude in this respect has been hardening. Two years ago Megan Butler, the FCA's Director of Supervision - Investment, Wholesale and Specialist, reassured the House of Commons' Women and Equalities Committee that sexual harassment is

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