The Financial Conduct Authority (FCA) has released final guidance aimed at assisting financial services firms in addressing serious non-financial misconduct, including bullying, harassment, and violence in the workplace. This development follows requests from firms for clearer standards and support on these issues. In July, the FCA amended its rules to establish more definitive expectations for how firms should handle non-financial misconduct, emphasizing the importance of creating a safe and respectful work environment. The guidance is intended to help firms develop effective policies and procedures to combat such behaviors and ensure compliance with regulatory standards. This initiative underscores the FCA’s commitment to fostering a culture of integrity and accountability within the financial services sector.
[Date: 13 December 2025]
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💰 FCA fines Nationwide £44m for failings in financial crime controls
The FCA has imposed a £44 million fine on Nationwide Building Society due to significant deficiencies in its anti-financial crime systems and controls from October 2016 to July 2021. During this period, the institution failed to maintain effective due diligence and risk assessment procedures for its personal current account customers, leading to a potential increased risk of financial crime. The FCA highlighted the importance of robust financial crime controls in protecting the integrity of the financial system and emphasized that firms must take their responsibilities seriously to prevent such lapses. The fine serves as a reminder for financial institutions to ensure that they adhere to regulatory standards designed to combat financial crime effectively.
[Date: 13 December 2025]
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