Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

FCA publishes second ‘5 Conduct Questions’ feedback report

Jaclyn Jaeger | May 1, 2018

The U.K. Financial Conduct authority has published its second industry feedback report on its 5 Conduct Questions, a key component of its wholesale banking supervision. In a tweet today, the FCA stated that the second report includes details on “how banks can encourage staff in front, middle, and back office, and control/support functions, to be responsible for managing conduct of their business.”

In 2015, the FCA introduced its 5 Conduct Questions for wholesale banking. Since then, wholesale banking firms operating in the U.K have “invested substantial efforts in change programs related to conduct and culture,” the FCA stated.

When firms started addressing the 5 Conduct Questions, they developed their own definitions of conduct risk and shared their experience with the FCA, providing examples of what they thought did and didn’t work well in the design and implementation of...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.