Brokers brought into scope of FCA’s bullying and harassment misconduct rules
The Financial Conduct Authority is extending the scope of serious bullying and harassment in financial firms qualifying as misconduct to around 37,000 regulated firms, including insurance brokers.
The rules will be implemented on 1 September 2026 and will apply to FSMA firms with a Part 4A permission, in a move to deepen trust in financial services, it claimed.
According to the watchdog, it was previously often unclear when these types of behaviours would amount to a breach of conduct rules in a firm other than a bank.
Serious and substantiated cases of poor personal behaviour will also need to be shared through regulatory reference in the same way financial misconduct currently is. It
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
Education key as AI adoption faster than ever, says CFC’s Radu
Focusing on the end client and education programmes spanning policyholders, brokers and insurers is key to success as companies ramp up the use of artificial intelligence, CFC head of technology Aura Radu told Insurance Age.
FCA consults on SM&CR and sets faster authorisation targets
The Financial Conduct Authority has opened a consultation on streamlining the Senior Managers and Certification Regime, and in a second announcement revealed new faster authorisation targets.
Insurtech Laka secures $10.4m in funding
London-based insurtech Laka, which bought the renewal rights to CoverCloud’s bike portfolio last year, has raised $10.4m (£7.73m) in a Series B funding round.
Liberty launches crypto protection product
Liberty Specialty Markets has launched a dedicated product for financial institutions operating in the cryptocurrency market.
With the Gallagher deal off the table, what are the next steps for PIB?
With PIB and its PE investors choosing to go again rather than sell to Gallagher, content director Jonathan Swift ponders what might lie ahead for the pan-European consolidator in an era of indigestion and M&A indifference.
Biba calls for regulation ‘reset’ in open letter to Chancellor
Graeme Trudgill, CEO of the British Insurance Brokers’ Association, has called for bold action from the UK Chancellor to reset regulation for a more proportionate framework.
W Denis launches specialist data centre insurance division
W Denis has launched a specialist division focused on insuring data centres and the integrated power generation infrastructure.
MGAs ‘extremely focused’ on broker distribution in softening market - Keating
MGAs are “extremely focused” on distribution, according to Mike Keating, CEO of the Managing General Agents’ Association, as he also detailed how the claims process needs to be deconstructed and put back together.