Senior Managers Must Stamp Out Bullying, FCA Says

Law360, London (January 6, 2020, 3:50 PM GMT) -- Britain’s financial watchdog said Monday that it could refuse to approve senior managers who turn a blind eye to bullying and harassment, in its latest effort to force financial services companies to curb harmful behavior.

The Financial Conduct Authority has told the sector that it will consider whether banks and insurers are guilty of non-financial misconduct before deciding whether it will approve executives under the senior managers and certification regime, which was extended in December.

The rules, known as the SMCR, require the regulator each year to formally approve employees who perform a senior role in which they have the power...

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