Finally: the FCA policy statement on non-financial misconduct – Doughty Street Chambers
‘On 12 December 2025, the Financial Conduct Authority (FCA) published its Policy statement PS25/23: Tackling non‑financial misconduct in financial services, which amends its Code of Conduct (COCON) sourcebook and provides guidance to those changes; and explains how non-financial misconduct (NFM) forms part of the Fit and Proper test for Employees and Senior Personnel (FIT) sourcebooks. The policy statement contains final guidance on NFM in the financial services sector, and aims to help firms who asked for additional support to tackle bullying, harassment and violence.’
Doughty Street, 5th January 2026
Source: insights.doughtystreet.co.uk

