Overview

The regulatory regime continues to focus on Conduct Risk as a key measure of compliance and culture. The expectations of the FCA are clearly outlined in its Business Plan 2016/2017 which stated that Firms’ Culture and Governance are one of its seven priorities:

“We want to see firms managed in a way that promotes appropriate culture and behaviours… Culture remains a key driver of significant risks in every sector and the root cause of high-profile and significant failings. It impacts on individual behaviours which in turn affect day-to-day decisions and practices in the firms we regulate. Culture is therefore both a driver, and potential mitigator, of conduct risk”. (FCA Risk Outlook)

This microsite provides firms and individuals with tools to:

  • identify, assess and mitigate Conduct Risk within your business
  • provide an overview of the regulatory environment in respect of Conduct Risk and contentious regulatory issues, and
  • identify lessons learnt from recent regulatory enforcement notices and publications.

“Without a firm foundation in identifying the conduct risks inherent in your businesses, it will be hard to manage conduct, let alone show us and others that it is being managed” (Tracey McDermott, Acting CEO FCA July 2015 - Wholesale Conduct Risk speech).

The following pages provide some useful guidance which is relevant to Conduct Risk issues, both from the wider regulatory agenda within the UK (for example, the FCA’s market studies) and the actions of global regulators:

This document (and any information accessed through links in this document) is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.