Skip to Primary Navigation

Skip to main content

FCA completes the puzzle and finalizes guidance on non-financial misconduct

Moving from soft culture to hard rules, the FCA explicitly categorizes serious NFM as a breach of regulatory conduct standards.

Jean Hurley

Boss violently chucks a book at employee in a heritage sketch.
Photo: The Print Collector/Heritage Images via Getty Images
Click to share on Facebook (Opens in new window/tab) Click to share on X (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

​On December 12, 2025, the FCA published its long-awaited final guidance, Policy Statement PS25/23: Tackling non-financial misconduct in financial services. ​This marks a definitive pivot in financial regulation. The era of viewing culture, bullying, and harassment solely as “HR issues” is officially over. The new rules explicitly categorize serious non-financial

, , , , ,

Get full access, free for a month

Start your 28-day free trial to continue reading and access all content on GRIP – no payment details required.

Start free trial
Sign in

What’s included:

  • Every new article, plus our 6,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience