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  1. Employment & Compensation
  2. United Kingdom: Non-financial misconduct – check your approach

United Kingdom: Non-financial misconduct – check your approach

27 Aug 2025    1 minute read
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FSR

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 The Financial Conduct Authority has now published its much-awaited rules and draft guidance on NFM. In this article, previously published in PLC Magazine, our experts explain the rule change and what the draft guidance means for both banks and non-banks.


Contents

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  • The Financial Conduct Authority (FCA) has now published its much-awaited rules and draft guidance on NFM (CP25/18), following its September 2023 consultation on diversity and inclusion in the financial sector (CP23/20).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.
Contact Information
Annabel Mackay
Senior Counsel
London
Read my Bio
annabel.mackay@bakermckenzie.com
Jonathan Tuck
Partner
London
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jon.tuck@bakermckenzie.com
Louise Loving
Associate
London
louise.loving@bakermckenzie.com
Kimberly Everitt
Senior Knowledge Lawyer
London
Read my Bio
kimberly.everitt@bakermckenzie.com

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