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UK FCA confirms change to code to clarify rules on non-financial misconduct

( July 2, 2025, 10:01 GMT | Official Statement) -- MLex Summary: The UK Financial Conduct Authority has confirmed a change to its code of conduct, to clarify rules on non-financial misconduct. Previously, it was unclear when these types of behaviors would amount to a conduct-rules breach in a firm other than a bank, the FCA said. Starting in September 2026, non-financial misconduct rules will be extended to around 37,000 other regulated firms. “Behavior such as bullying or harassment going unchallenged is one of the [most significant] red flags. A culture where this occurs can raise questions about a firm's decision-making and risk management,” said Sarah Pritchard, the FCA's deputy chief executive. The watchdog has also asked the industry whether additional guidance to clarify the rules around non-financial misconduct are needed. The guidance is open for consultation until Sept. 10.Statement follows and consultation is attached....

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