The Financial Conduct Authority (FCA) has dismissed 12 employees over misconduct in the past three years, newly released figures reveal, as the regulator steps up efforts to tackle toxic workplace behaviour in the financial sector.
Data disclosed under the Freedom of Information Act shows that between 2022 and 2024, 38 FCA staff faced disciplinary proceedings. In addition to the 12 dismissals, 26 employees were issued with written warnings — 16 first warnings and 10 final warnings.
The figures come as the City watchdog consults on new rules to align conduct standards across banks and non-bank financial institutions for serious non-financial misconduct (NFM) cases, such as bullying, harassment and violence.
In a foreword to the consultation paper published in July, Sarah Pritchard, the FCA’s deputy chief executive, warned that failure to address workplace misconduct can undermine growth, deter whistleblowing and enable wider financial wrongdoing.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
