City firms are facing scrutiny over their handling of non-financial misconduct complaints, with the FCA reporting a 40% rise in allegations, raising questions about corporate culture.
The FCA's survey revealed that complaints of bullying and harassment constituted 26% of total non-financial misconduct reports, highlighting the persistent issues within the industry.
Despite a significant increase in complaints post-pandemic, the FCA suggested that it might be a sign that staff feel more secure in raising concerns.
Though disciplinary action was taken in 73% of violence-related complaints, the overarching culture within financial firms raises doubts about accountability and the seriousness with which such allegations are treated.
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