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Fitness and propriety investigations: practical considerations
Nick Ralph
Nick Ralph, partner in Kingsley Napley's Employment team, was recently quoted in an article in Financial Times discussing the FCA conduct rules and fair treatment.
Nick quoted:
Kingsley Napley have also warned that SM&CR — which requires companies to certify key staff as “fit and proper” each year — can be used by employers to fast-track staff dismissals.
“F&P certification gives employers a stick with which to beat underperforming employees,” said Nick Ralph, a partner in the firm’s employment team.
“Historically, competence or underperformance has been dealt with via an HR-related performance management plan . . . However, the F&P aspects of regulated firms’ new responsibilities now offer them a way to short-circuit that and get shot of people in one swoop — by treating issues as the competence aspects of F&P.”
This article was first published in Financial Times on 1 January 2021. You can read the article in full by clicking here (subscription required).
Nick has co- authored blogs providing background on the issues highlighted within the Financial Times article., visit the below blogs to read more on related topics:
- FCA issues new guidance on fitness and propriety assessments in the financial services sector
- Fitness and propriety investigations: practical considerations
- First anniversary of the extension of the Senior Managers & Certification Regime
Further Information
Should you have any queries regarding the issues raised in this article please contact Nick Ralph or any member of our Employment team
About Nick
Nick is a highly experienced employment lawyer with an exceptionally strong reputation in the City of London and beyond.
Nick acts for executives, partners and employers across a variety of sectors including: professional services, “C-suite”, hedge funds, legal, retail, trading, insurance, technology, private equity, IT, accountancy, regulatory and banking.
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