Global Trustee and Fiduciary Services Bite Sized Issue 8 2025

17 QUICK LINKS CBDC CRYPTOASSETS CSDR EMIR FINTECH FSB OPEN FINANCE OPERATIONAL RESILIENCE SUSTAINABLE FINANCE/ESG ASIA PACIFIC NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 8 | 2025 The draft guidance covers how firms should consider non-financial misconduct when assessing whether an individual is fit and proper to work in financial services. This includes how firms should consider use of social media and the relevance of behaviour in private and personal life. The Policy Statement details the new rule on non-financial misconduct, amending the scope of COCON in non-banks and applies from 1 September 2026, to line up with the conduct rule breach reporting period for most firms. The new rule supports the FCA’s primary objectives to protect consumers and markets and promote effective competition, as well as its secondary objective to promote economic growth and competitiveness and will apply to FSMA firms with a Part 4A permission. The response period for the consultation closes on 10 September 2025. Link to Consultation Paper and Policy Statement here