TFAS releases guidance and staff awareness training for new non-financial misconduct rules
- 2 days ago
- 1 min read
On 1 September, new FCA rules and guidance on non-financial misconduct (NFM) come into force. This follows the FCA's Policy Statement PS25/23, published 12 December 2025, which finalises how serious workplace behaviour - bullying, harassment and violence - is treated as a regulatory issue, not just an HR matter.
The changes affect firms via two separate but connected routes: a new Conduct Rule (COCON 1.1.7FR) and updated guidance on the Fit and Proper test (FIT).
To support firms comply with these new rules, TFAS Compliance Services has issued guidance and staff awareness training for firms.
In addition, last month, we ran or latest Compliance in focus webinar. The hour-long webinar provided a practical look at some of the most important regulatory initiatives affecting advice firms today, before moving into two deeper-dive sessions on cyber security and non-financial misconduct, each supported by specialist guest input.
REP008 returns - important information
The FCA opened the REP008 return on the same day (1 September), which covers conduct rule breaches by non-SMF staff resulting in disciplinary action (formal warning, suspension, dismissal, or reduction in remuneration) between 1 September 2025 and 31 August 2026.
If nothing applies to your firm, no action is needed. There is no nil return to submit and unopened returns are automatically removed after the deadline. Where disciplinary action has occurred, the return must be filed via RegData by 2 November 2026.
If you are unsure whether something that’s happened in your firm counts as reportable, please get in touch with the team and we can provide guidance.
