Number of non-financial misconduct reports in the City skyrockets in three years

FCA survey

The number of non-financial misconduct incidents in certain sectors within financial services soared between 2021 and 2023, the UK's financial watchdog has found.

According to a survey by the Financial Conduct Authority, around 1,363 incidents were reported in 2021, a number which increased to 1,670 in 2022 and 2,347 last year. The FCA study, which polled over 1,000 wholesale insurers, banks and brokers, found that most incidents (26%) related to bullying and harassment, followed by discrimination at 23%, although the largest group (41%) fell under the ‘other' category of the survey. This, according to the regulator, highlights how "difficult it can be to categorise issues of personal misconduct". However, the FCA noted that a rise in misconduc...