Financial firms can now face regulatory action for bullying, harassment, and acts of violence under rules that have come into effect in the United Kingdom to counter sexism, misogyny, and poor corporate culture in the workplace.
The Financial Conduct Authority’s (FCA) rules regarding non-financial misconduct (NFM) have been extended so that they not only apply to banks but to “non-banks” too, meaning other financial services firms such as insurers, pension funds, and investment firms. The rules will also apply to managers and other senior individuals under the Senior Managers and Certification Regime (SMCR).
