Published by: Financial Conduct Authority
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Key Take Aways
The FCA is extending its rules on non-financial misconduct (NFM) to non-banking financial firms, aligning non-bank and bank standards from September 2026.
The regulatory amendments focus on behaviour such as bullying, harassment, and violence, recognising their critical role in cultural failings within firms.
Guidance in the Code of Conduct (COCON) and the Fit and Proper (FIT) sourcebooks aims to support consistent application of conduct rules and assess individual fitness and propriety.
New rules specify that serious misconduct can constitute breaches of conduct rules, subject to consideration of the behaviour’s impact and seriousness.
The scope of COCON in non-banks will expand, explicitly covering misconduct against colleagues in work-related contexts, including private or social events linked to the firm.
The proposed guidance clarifies the boundary between personal and professional ...
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