l FCA City Investigations Rise Sharply | SMCR Compliance

FCA investigations into City directors rise sharply as complaints about non-financial behaviour soar at insurers and banks

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The number of top brass of financial companies being investigated by the UK’s watchdog has more than doubled in two years, with nearly half of those being scrutinised for failings in culture and governance.

Statistics from the Financial Conduct Authority show that of the 58 directors, 27 are being investigated for culture and governance failings.

New rules under the Senior Managers and Certification Regime (SMCR), are due to be rolled out to the entire financial sector at the end of 2019, meaning more probes could ensue.

https://www.ft.com/content/d27f8a5a-78ab-11e9-bbad-7c18c0ea0201