On June 10, the UK Financial Conduct Authority (FCA) published an “insight article” on individual conduct and firm workplace culture during the COVID-19 pandemic (the Article). Such “insight articles” are not FCA guidance and do not necessarily represent the FCA’s official view on a topic — they are intended merely to stimulate public debate on key regulatory topics.

In the Article, the FCA staff note that the COVID-19 pandemic has changed the way in which financial services firms operate. These changes have introduced both new challenges to corporate culture and conduct, as well as new opportunities for further development.

The Article states that firms should seek to encourage healthy cultures to benefit their employees, clients and the long-term future of their businesses but recognizes that the type of approach taken to achieve such objectives may vary across different firms.

The Article is available here.