{
  "id": 7713963,
  "title": "Clean up or lawyer up: The FCA’s culture war gets real",
  "url": "https://urgent.news/2026/09/16/clean-up-or-lawyer-up-the-fcas-culture-war-gets-real",
  "topic": "world",
  "section": "World",
  "published": "2026-09-16T05:00:00.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/clean-up-or-lawyer-up-the-fcas-culture-war-gets-real/"
  },
  "original_language": "en",
  "account": "The Financial Conduct Authority (FCA) has taken a significant step in cracking down on non-financial misconduct, following its victory at the Upper Tribunal. This ruling comes after the regulator dismissed disgraced financier Crispin Odey’s appeal against its ban on working in the industry. Odey, who faced a series of historic sexual assault allegations from his former staff, was initially fined £1.8m but had his fine reduced to £1.5m by the Tribunal. Despite this reduction, Odey is likely to incur substantial legal fees from his failed legal battle against the regulator's ban.\n\nThe FCA's new powers, which came into play at the beginning of the month, cover a broader range of unwanted behaviour, including violence, that can make a colleague feel unsafe, uncomfortable, or disrespected. This expansion of the FCA's jurisdiction allows for a more comprehensive review of any misconduct that could potentially affect a company's reputation or integrity.\n\nThe enforcement agenda of the FCA is now more robust, with the regulator expected to scrutinize any actions that could compromise the fitness and propriety of individuals within the financial sector. Lawyers are anticipating a surge in business from companies grappling with these culture issues, as they seek external legal counsel to review their internal procedures and ensure compliance with the FCA's new rules. The complexity of these allegations, which often involve multiple legal jurisdictions, necessitates a thorough and independent investigation, often requiring the involvement of external law firms.\n\nThe journey from initial proposals to the final rules took nearly two years, facing significant industry pushback and major concessions from the City watchdog. Despite these challenges, the FCA has now gained a stronger foundation to enforce its enforcement agenda, which includes the review of any unwanted behaviour that could pose a risk to the financial sector.",
  "summary": "With the City watchdog empowered to penalise non-financial misconduct and fresh off a win at the Upper Tribunal, lawyers now expect to be flooded with work from businesses that are grappling with the focus on culture, as bullying, harassment, and serious misconduct are no longer just HR matters, writes Maria Ward-Brennan. The Financial Conduct Authority [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}