UK FCA's expanded misconduct rules reach 40,000 firms

On 1 September 2026, the UK FCA extends conduct rules covering bullying, harassment, sexual harassment, racism and violence to roughly 40,000 non-banking firms — hedge funds, insurers, pension funds and brokers. Under the SM&CR, which holds senior staff personally accountable, the move reflects FCA survey data citing bullying and harassment as the most reported misconduct type.