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ARTICLE · 01 NOVEMBER 2024

FCA Findings On Non-financial Misconduct

Travers Smith LLP
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The FCA's report on non-financial misconduct outlines key findings from a survey of 1,028 firms, emphasizing action points for enhancing governance, reporting, and addressing misconduct in financial services.

United KingdomEmployment and HR
Tim Lewis
Tim Lewis
Tim Gilbert
Tim Gilbert
Phil Bartram
Phil Bartram
Siân Keall
Siân Keall
Michael Raymond
Michael Raymond
Ed Mills
Ed Mills
Natalie Lewis
Natalie Lewis
Ailie Murray
Ailie Murray
Danny Riding
Danny Riding
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The FCA has published some key findings on non-financial misconduct, including action points for firms. Although the survey was aimed at wholesale firms, the key findings report (Report) sets out some actions that firms should take in order to address non-financial misconduct. It is therefore of interest to all financial services firms.

The Report is not the FCA's feedback to its diversity and inclusion proposals (see our briefing), which as consulted upon incorporate non-financial misconduct into the Conduct Rules, fit and proper assessments, suitability guidance on the Threshold Conditions and guidance on regulatory references. The final rules are expected in Q4 2024 (the FCA has indicated separately that this is likely to be around the year end). The Report nonetheless provides a useful insight into the likely approach that the FCA may take to non-financial misconduct when those DEI proposals settle.

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