Watchdog probe | Surge in bullying & misconduct at UK's finance firms

Reports of bullying, discrimination and other employee misconduct cases at the UK’s financial giants have surged over a three year period, a new survey from the financial watchdog reveals.

The Financial Conduct Authority (FCA) has published the results of a survey to better understand how firms record and manage allegations of non-financial misconduct. 

The survey of over 1,000 investment banks, brokers and wholesale insurance firms found that the number of allegations reported increased between 2021 and 2023. 

It found a rise from 1,363 total reported incidents in 2021, increasing to 1,670 in 2022, and again to 2,347 in 2023, marking a total increase of 72%.