FCA admits botch up over bullying complaint – report

Independent commissioner removes findings against former FCA senior exec

Jen Frost
clock • 2 min read

The Financial Conduct Authority (FCA) has reportedly admitted internal failings over a bullying complaint directed at a former senior member of staff.

A report on the Financial Regulators Complaints Commissioner (FRCC) website into the conduct of former FCA director of enforcement and market oversight Mark Steward has reportedly been removed. It had upheld that the senior executive had behaved in an "aggressive, unpleasant and bullying" manner towards a creditor of a collapsed payments firm, The Times reported. As per The Times, it has since been established that Steward was not made aware of the complaint against him, while potential witnesses to the event were not approached. Under the terms of the since removed report, the regula...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

Jen Frost
Author spotlight

Jen Frost

Editor at Professional Adviser

More on Regulation

FCA 'agnostic' on advice industry consolidation benefits

FCA 'agnostic' on advice industry consolidation benefits

Regulator unsure on consolidation outcome but will continue engagement with firms

Sahar Nazir
clock 06 February 2025 • 1 min read
FCA must be 'more ambitious' on redress modernisation plans - PIMFA

FCA must be 'more ambitious' on redress modernisation plans - PIMFA

Watchdog should reconsider role of FOS and consolidate CMC regulation

Jenna Brown
clock 30 January 2025 • 3 min read
FSCS moves forward with claims against troubled Donre Advisory

FSCS moves forward with claims against troubled Donre Advisory

London advice firm went into liquidation in July last year

Isabel Baxter
clock 30 January 2025 • 2 min read