FCA issues policy statement with guidance on non‑financial misconduct
The Financial Conduct Authority (FCA) has published policy statement PS25/23: Tackling non‑financial misconduct in financial services—Guidance in the Code of Conduct (COCON) and the Fit and Proper test for Employees and Senior Personnel (FIT) sourcebooks. It contains final guidance on serious non-financial misconduct (NFM) in the financial services sector, and aims to help firms tackle bullying, harassment and violence after they asked for additional support. The guidance will come into force on 1 September 2026, at the same time as the new rule at COCON 1.1.7FR. The guidance explains how firms can apply FCA rules on minimum standards of behaviour for financial services employees, and the factors they should take into account when assessing whether someone is fit and proper for their role.