In a recent article on the Employment Law Worldview blog we looked at how a workplace grievance can lead to a defamation claim. The judgment, whilst primarily concerned with whether such a claim could be brought in the first place, also pondered the issues around raising a qualified privilege defence in such circumstances. This is … Continue Reading
How does the FCA expect a firm to go about investigating allegations of NFM? If someone’s non-financial misconduct breaches the Conduct Rules, does that mean they need to be dismissed? These questions arise frequently in the HR and Compliance departments of FCA and PRA regulated businesses. Perhaps that is because, despite clearly articulating its expectations … Continue Reading
“Non-financial misconduct is misconduct, plain and simple” – that is what Christopher Woolard (former FCA director) said in 2018. Except that as it turns out, fairly predictably when dealing with shades of human behaviour, it’s not that plain, nor that simple. With a lack of guidance on what non-financial misconduct (NFM) actually is, firms have thus … Continue Reading
The FCA’s consultation paper (CP23/20) proposes a framework to establish and define the minimum standards expected from regulated individuals in the financial services sector. Specifically, it clarifies the FCA’s expectations around non-financial misconduct (NFM). But, if implemented, will these proposals actually change anything? We think these rules would have a direct effect on the conduct … Continue Reading
Not just more management consultancy buzz words, “non-financial misconduct” is becoming an increasingly important term for everyone working in HR in the financial services sector. As most readers will be aware, it is the role of the FCA to ensure that the UK financial markets work well. In pursuit of this, and to protect the … Continue Reading
