UK FCA extends non-financial misconduct rules to 40,000 firms on 1 September 2026

On 1 September 2026, the UK FCA's expanded non-financial misconduct regime takes effect, extending conduct rules on bullying, harassment, sexual harassment, racism and violence to nearly 40,000 non-banking firms — hedge funds, insurers, pension funds and brokers — under the SM&CR framework, which holds senior individuals personally accountable. The FCA cites survey data showing bullying and harassment as the most reported misconduct type.