Calls for FCA to take charge on SMCR harassment rules

Guidance on dealing with misconduct ahead of regulation launch

Mike Sheen
clock
The SMCR will apply to asset managers from 9 December 2019
Image:

The SMCR will apply to asset managers from 9 December 2019

The Financial Conduct Authority (FCA) must publish detailed guidance on how firms should handle harassment and sexual misconduct before the regulator considers enforcement under the Senior Managers & Certification Regime (SMCR), a law firm has urged.

The SMCR will apply to asset managers from 9 December 2019, placing upon the sector fresh administrative, regulatory and conduct requirements that banks and other large financial institutions have been subject to since 2016. FCA's Butler: Diversity is fundamental to business success and reduces failure The regulation aims to reduce harm to consumers and strengthen market integrity by making individuals more accountable for their conduct, while encouraging a culture of personal responsibility throughout businesses. Asset and wealth managers will soon face potentially unlimited fines...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Industry

Trustpilot