FCA report on five Conduct Questions Programme

Regulatory Updates | 03/09/20

The Financial Conduct Authority (FCA) has published a report, ‘Messages from the Engine Room’: 5 Conduct Questions Industry Feedback for 2019/20. The 5 Conduct Questions were introduced by the FCA in 2015 to assist in the improvement of conduct risk management and culture in wholesale banking firms, with this report setting out the findings from the FCA’s Conduct Roundtable sessions with staff at Vice President level or similar.

Amongst other things, the FCA found that though conduct risk has risen in profile over the past decade, the identification of conduct risk in day-to-day working life remains weak. The report sets out other findings on Culture, Safety, and Leadership, and Purpose, Principles and Values.