The FCA and non-financial misconduct: Updated rules and guidance

The background The Financial Conduct Authority's (FCA) focus on non-financial misconduct (NFM) has been steadily increasing since 2018, when it first publicly recognised that unwelcome behaviours such as sexual harassment could fall within its regulatory remit.  The latest development came earlier this month, with the publication of a new FCA consultation paper, Tackling Non-Financial Misconduct in Financial Services (CP25/18). CP25/18 serves two key purposes. Firstly, it introduces new rules, effective from 1 September 2026, that amend the Code of Conduct sourcebook (COCON) to clar...