FCA to 'further clarify' non-financial misconduct guidance

Treasury Select Committee hearing

CEO of the Financial Conduct Authority Nikhil Rathi has revealed the regulator will issue further clarity and guidance on how non-financial misconduct implicates fitness and propriety to work in financial services.

In a Treasury Select Committee hearing yesterday (19 July), Rathi and FCA chair Ashley Alder were quizzed about savings rates, access to cash and credit cards, and the incoming Consumer Duty, which is set to come into force at the end of the month. FCA confirms investigations into Crispin Odey and Odey Asset Management But when asked about the work the regulator is doing in the area of non-financial misconduct in the wake of the Crispin Odey scandal, Rathi said since the investigation into the fund manager is live, there limits as to what he could say. He did say, however, the FCA ...