Serious bullying and harassment amount to misconduct in regulated financial services firms, according to a clarification published by the U.K. Financial Conduct Authority (FCA) on July 1. The regulator announced that rules about reporting non-financial misconduct, currently applicable to banks in the U.K., will be extended to 37,000 more regulated firms starting September 1, 2026.

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Ruth Prickett graduated from Cambridge University with a BA hons in History and has specialized in business and finance journalism for the past 20 years. She was editor of Financial Management, the magazine...