This policy statement is the FCA’s final guidance on non‑financial misconduct (NFM) in financial services. The guidance will come into force on 1st September 2026.
The FCA is amending its Code of Conduct (COCON) sourcebook to explain how NFM can be a breach of conduct rules and make it easier for SM&CR firms to interpret and consistently apply the rules. It is also explaining how NFM forms part of the Fit and Proper test for Employees and Senior Personnel (FIT) sourcebook.
The amendments follow a consultation, launched in July 2025, in which 95% of respondents agreed that new guidance was needed.
