Cracking down | Workplace sexual harassment claims are falling, but not quickly enough

Claims of bullying and sexual harassment within the UK’s financial sector have steadily dropped following a watchdog crackdown, according to new reports.

Figures obtained exclusively by City AM show that the number of whistleblower reports made to the Financial Conduct Authority (FCA) that relate to “personal non-financial misconduct” dropped by 11% in the last year, down from 603 in 2020 to 537 in 2021.

According to the publication, financial services firms such as banks and insurers have been under increasing scrutiny from the FCA in recent years, as part of a major crackdown on personal misconduct by individual employees.

Catriona Watt, Partner at Fox & Partners, told City AM that “the drop in the number of personal misconduct reports shows action taken by financial services firms to improve workplace culture is starting to yield results.”