The UK’s financial watchdog is expanding bullying and harassment rules to more than 37,000 City firms, in an effort to crack down on “rolling bad apples” who avoid consequences by hopping from firm to firm.
It means that “serious, substantiated cases of poor personal behaviour” by senior managers at a range of firms including hedge funds, insurers and pension firms will have to be reported to the Financial Conduct Authority (FCA), as well as future employers who are assessing whether new hires are fit and proper for the job.
