FCA's non-financial misconduct survey 'highlights opportunity to make a difference'

PIMFA to develop guidance in response to regulator’s findings

Isabel Baxter
clock • 2 min read

The Financial Conduct Authority’s (FCA) culture and non-financial misconduct survey has been welcomed by professional bodies as it “highlights an opportunity for the profession to make a difference”, with PIMFA set to develop guidance.

The UK's financial watchdog's study found that the number of non-financial misconduct incidents in certain sectors within financial services soared between 2021 and 2023. It found that around 1,363 incidents were reported in 2021, a number which increased to 1,670 in 2022 and 2,347 last year. The FCA study, which polled over 1,000 wholesale insurers, banks and brokers, found that most incidents (26%) related to bullying and harassment, followed by discrimination at 23%, although the largest group (41%) fell under the ‘other' category of the survey. Personal Investment Management & ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Editor's view: Will the next budget scupper tax planning clarity?

Editor's view: Will the next budget scupper tax planning clarity?

The editor's view from 15 August

Jen Frost
clock 18 August 2025 • 3 min read
'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

After PensionBee calls for a legally enforceable transfer guarantee

Sahar Nazir
clock 18 August 2025 • 2 min read
Advisers have 'powerful opportunity' to guide clients through retirement fears

Advisers have 'powerful opportunity' to guide clients through retirement fears

Clients finding it hard to spend money they have saved

Isabel Baxter
clock 18 August 2025 • 2 min read