There has been a rise in reported incidents of bullying, sexual harassment and other forms of misconduct at City firms, according to a wide-ranging survey by the financial regulator that sheds light on the culture of the sector.
Data gathered by the Financial Conduct Authority from 984 firms involved in banking, broking and insurance showed there were 2,347 incidents of non-financial misconduct recorded last year, up from 1,670 in 2022 and 1,363 in 2021.
This equates to 7.2 incidents per 1,000 employees in 2023, 5.1 in 2022 and 4.2 in 2021 based on firms’ aggregate headcount in February this year, with rates highest at wholesale banks. Bullying and harassment was the most reported type of specific incident at 26 per cent, followed by discrimination