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PIMFA Podcast: Drawing the Line: What Counts as Non-Financial Misconduct in Wealth & Advice

A deep dive into where the FCA is drawing the line on behaviour and what firms must recognise as non-financial misconduct before the new rules land.

In this episode of the PIMFA Podcast, ⁠⁠Maya Erceg⁠⁠⁠, PIMFA’s Senior Policy Adviser, is joined by ⁠David Speakman⁠⁠ and ⁠⁠Angela Hayes,⁠ partners at DAC Beachcroft⁠⁠, to unpack the FCA’s sharpened focus on non-financial misconduct — behaviours including bullying, harassment, discrimination and other conduct that undermines a healthy culture.

Together, they explore:

  • The FCA’s evolving expectations around Conduct Rules and Fitness & Propriety
  • How non-financial misconduct inside and outside the workplace factors into regulatory judgement
  • What makes certain incidents “serious” in the eyes of the regulator
  • How the new rules coming into force in September 2026 will reshape governance, investigations, and accountability
  • Practical steps firms can take now to strengthen culture, reporting pathways and oversight

This is an essential listen for Senior Managers, HR, Risk and Compliance leaders preparing for the next era of regulatory scrutiny around culture and behaviour.

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