Conduct and Culture Update from the FCA

Latham & Watkins LLP

The FCA published its annual Industry Feedback for 2019/20 in relation to its 5 Conduct Questions Programme.

Messages from the Engine Room -

“Conduct and culture will remain a key focus of our engagement activity”. FCA, 2020

The 5 Conduct Questions Programme forms an integral part of the FCA’s firm supervision strategy.

In 2019, the FCA hosted Conduct Roundtables with 18 wholesale banks, each of which was represented by a group of staff at the vice president level or equivalent - termed the “Engine Room”. The roundtables culminated in the FCA’s latest report on the 5 Conduct Questions Programme, ‘Messages From the Engine Room’, which reflects the FCA’s findings and perspectives.

Please see full Alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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