In brief
Non-financial misconduct (NFM) has been the subject of regulatory focus for some time. The Financial Conduct Authority has now published its much-awaited rules and draft guidance on NFM. In this article, previously published in PLC Magazine, our experts explain the rule change and what the draft guidance means for both banks and non-banks.
Key takeaways
- The Financial Conduct Authority (FCA) has now published its much-awaited rules and draft guidance on NFM (CP25/18), following its September 2023 consultation on diversity and inclusion in the financial sector (CP23/20).
- In this article, we set out how changes to the Code of Conduct (COCON) bring more incidents of NFM in non-banks within scope and widens its scopes in non-banks against colleagues.
- We also discuss the extent to which proposed guidance addresses the boundaries between work and private life and as part of assessments of fitness and propriety, as well as the challenges regulated employers will face in taking such decisions.
- Click here to read the full article. This article first appeared in the August 2025 issue of PLC Magazine.
- To discuss what these developments mean for you and your business, please get in touch with the authors or your usual Baker McKenzie contact.
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Louise Loving, Associate, has contributed to thislegal update.
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