FCA non-financial misconduct survey leads to call for action and benchmarking
The Financial Conduct Authority has released the findings from its non-financial misconduct survey as a benchmark for firms to reflect on whether their own processes, procedures and controls provide both robust detection and appropriate outcomes.
The FCA wants firms to discuss non-financial misconduct at senior management and board level and consider if they need to take steps to improve their culture, how they identify and manage risks, and how they address non-financial misconduct on an ongoing basis.
It explained that trade associations play a key role in coordinating industry-wide analyses and actions.
SurveyThe survey was conducted with 1,028 regulated wholesale financial services firms asking about recorded incidents of non-financial
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