FCA Extends Non-Financial Misconduct Rules to All SMCR Firms From Sept. 1
Updated
Updated · Employment Law Worldview · Aug 4
FCA Extends Non-Financial Misconduct Rules to All SMCR Firms From Sept. 1
2 articles · Updated · Employment Law Worldview · Aug 4
Summary
Sept. 1 will bring all firms under the Senior Managers and Certification Regime into the FCA’s non-financial misconduct rules, extending the regime beyond banks.
Non-banks will have to prevent work-related bullying, harassment and violence against colleagues even when the conduct does not directly involve regulated activities.
PS25/23 sets out handbook guidance ahead of implementation, as firms are urged to review policies, training, investigations and governance.
The changes land alongside wider UK workplace reforms, including limits on some NDA provisions, whistleblowing protection for sexual harassment and stronger duties to prevent it.