Tackling non-financial misconduct

In this IIL London Market lecture, Matt Brewis will talk about how firms should be taking a proactive approach in tackling non-financial misconduct.

The FCA is increasingly looking at the non-financial misconduct of individual firms. It expects firms to identify what what drives this behaviour and modify drivers to ensure that firm culture does not lead to harm. Each organisation has a different culture, but the FCA does not seek to impose a one-size-fits-all culture. But it is clear from the recent Lloyd's Survey that there is a problem which the market needs to accept and address.

The FCA is keen to work with the industry on solutions to embed cultural change. The FCA focuses on four key drivers of culture: Leadership, Purpose, Remuneration and Governance. Areas of focus where it needs to see improvements and can measure progress are diversity, bullying harassment, and the effectiveness of whistleblowing procedures.

While each firm must nurture its own culture, the FCA can provide a framework shaped around the hard questions that firms must ask themselves. How do you identify the conduct risks within your business, who is responsible for managing these, and what mechanisms do you have to support employees improving the conduct of their business or function?

Finally, Matt will touch on the system by which firms and individuals can be held accountable for their actions. This will be increasingly through the SM&CR, which is a huge opportunity to transform culture in financial services.

By the end of this lecture members will have gained an insight into:

• How the FCA works with the industry on solutions to rebuild reputation and embed cultural change
• Asking hard questions about how firms can identify and manage conduct risks
• How we create a system in which individuals, as well as firms, can be held accountable for their actions

Chair:
Roy White, Chair, Marsh JLT Specialty UK and LIIBA

CPD events are open to CII and PFS members
Registration closes at 12pm two working days before the event date
For events held in The Old Library, Lloyd's pass holders may also attend and do not need to register
Original Photo ID (Driving Licence, Passport, Work ID with company logo and full name) is required to gain entry to all venues

Conditions:

• Email confirmations and original photo ID must be produced to security staff at the lecture venue
• Attendance confirmations are non-transferable to any other person or lecture
• All venues have limited capacity and registration and/or a Lloyd's pass does not guarantee admission

Please let us know what we can do to make our events fully accessible to you.

Contact:
Please contact Patricia Pedraza (07463 028327) with any queries regarding the CPD events programme.