As a part of the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority's (PRA) proposed Diversity & Inclusion (D&I) regulatory framework, the regulators are seeking to crack down on sexual harassment and other instances of non-financial workplace misconduct. These reforms follow widely reported allegations of sexual misconduct against hedge fund manager Crispin Odey that led to his removal from his firm, Odey Asset Management.
The proposal introduces new guidance on addressing "serious instances of harassment and bullying" and incorporates non-financial misconduct into the FCA's "fit and proper" test for financial services employees.
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