The Financial Conduct Authority (FCA) plans to tighten rules on workplace misconduct, spurred by allegations of sexual harassment against hedge fund tycoon Crispin Odey. The proposed changes include stricter regulations against wrongdoers and companies that neglect abusive behavior at work. The FCA aims to clarify its “fit and proper” test, including non-financial misconduct. It also seeks to make diversity and inclusion recognition a “non-financial risk.” This move follows Odey’s removal amid harassment claims, raising questions about the FCA’s oversight.
FCA to launch crackdown on workplace misconduct, prompted by Crispin Odey harassment allegations.
- New rules proposed against perpetrators and companies failing to address abuse at work.
- “Fit and proper” test to include non-financial misconduct, providing clarity for City workers.
- FCA wants companies to recognize lack of diversity and inclusion as a non-financial risk.
- Odey’s removal raised concerns about the FCA’s oversight, sparking the regulatory initiative.