The FCA has warned CEOs that how a firm handles non-financial
misconduct is indicative of a firm's culture. It is the
FCA's view that embedding healthy cultures includes, therefore,
taking steps to address the discrimination, harassment and bullying
that remains "prevalent" in firms.
In a 'Dear CEO' letter (the
Letter), which follows recent incidents in the
wholesale general insurance sector, the FCA considers the need for
fundamental change in firms' culture and calls on leaders to
bring about that change.
Next steps
This area will be a key area of supervisory focus and all firms
need to address the FCA's concerns. CEOs are expected to:
- share the Letter with their senior
executive committees and Boards (or equivalent);
