Reem Al-Saady

Better Late Than Never? The Financial Conduct Authority (FCA) Continues Its Crackdown on Non-financial Misconduct in Financial Services

By Reem Al-Saady, David Whincup, Janette Lucas, Jenna Saffman and Alison Treliving on July 9, 2025 Posted in General, Misconduct

On 2 July 2025, the FCA finally issued its long-awaited next steps document (CP25/18: Tackling non-financial misconduct in financial services) on the proposed new guidance on non-financial misconduct (NFM). The document contains two key elements: Rule Change from 1 September 2026 – The FCA will extend its Code of Conduct Rules (COCON) to non-bank firms, following strong … Continue Reading