Overview

• The Financial Conduct Authority recorded 2,347 incidents of non-financial misconduct in 2023, up from 1,670 in 2022.
• Bullying and harassment accounted for 26% of complaints, while discrimination made up 23%.
• The rise in reports may reflect a culture where employees feel safer to speak up, according to the FCA.
• Despite the increase in complaints, City firms rarely dock pay or bonuses as a consequence of misconduct.
• The FCA is not planning new recommendations but encourages firms to use the data to benchmark and improve their internal practices.