“The amendments do go some way to provide guidance but, as with all issues that are raised relating to employee misconduct, the question as to whether misconduct has actually occurred and whether it is sufficiently serious to meet the COCON threshold or is a FIT issue will (a) turn on its facts (b) require a proper review of documentary and witness evidence and (c) involve a degree of judgment.”
Our partner Tracey Dovaston and counsel Alessia de Quincey share their thoughts with Law.com on the long awaited consultation papers recently published by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) on Diversity & Inclusion in the financial sector.
The consultation papers hope to provide guidance to enable firms and individuals to understand their regulatory obligations.
Responses to the papers are due by 18 December 2023. The FCA will then publish a policy statement in 2024 and the new regulatory framework is expected to come into force in 2025.
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