FCA Conduct Rules
A focused course on the Individual Conduct Rules and what acting with integrity, due skill and care looks like in real situations.
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Request a demoWhat are the FCA Conduct Rules and why do they matter?
The Individual Conduct Rules set the minimum standards of behaviour for almost everyone in a UK regulated firm. They are central to the FCA’s Senior Managers and Certification Regime (SM&CR), designed to raise standards of accountability and conduct. The five rules are deliberately short: act with integrity; with due skill, care and diligence; be open with regulators; treat customers fairly; and observe proper market conduct.
What are the consequences of a Conduct Rules breach?
Getting conduct wrong has consequences for individuals and firms alike. Breaches can lead to disciplinary action, reportable findings to the FCA and lasting damage to careers and reputations. Because the rules apply to so many people, firms carry a clear obligation to make sure staff understand the standards expected of them. Vague or purely theoretical training leaves people unsure how the rules apply.
What does Conduct Rules training cover?
This concise course brings each rule to life through realistic workplace scenarios. Learners come away able to recall the Individual Conduct Rules, apply each one to situations they will encounter in practice, and recognise breaches and their consequences. The course also explains how and when conduct breaches must be reported, including the difference between Senior Manager and other notifications.
What does the FCA expect from Conduct Rules training?
The FCA requires firms to train staff so they understand how the Conduct Rules apply to their specific role, going beyond simply reciting them. It expects training to be appropriate, kept current, and recorded. CityLearning keeps the content focused and scenario-based, current with FCA expectations including non-financial misconduct, and designed to build practical judgement rather than rote recall.
It is built for all Conduct Rules staff across regulated firms and works particularly well as an annual refresher, helping your firm meet its obligation to train staff on the rules that apply to them.
What your team will learn
- Recall the Individual Conduct Rules
- Apply each rule to realistic workplace scenarios
- Recognise breaches and understand the consequences
- Identify how and when conduct breaches are reported
What's included
- ~15 min of focused, scenario-based learning
- CPD accredited (CII)
- Built-in quiz with a configurable pass mark
- Reviewed and kept current with UK regulation
- Time-stamped completion records for your audit trail
How it works
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Assign it in seconds
Enrol a team, a role or your whole firm from the CityREPORTS dashboard, with automated reminders that chase completion for you.
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Your team completes it
Learners work through the course at their own pace on any device, finishing with a short assessment that demonstrates understanding.
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Evidence it to the regulator
Every completion is time-stamped and retained, so you can prove the right people did the right training at any moment.
Frequently asked questions
- What are the FCA Individual Conduct Rules?
- There are five Individual Conduct Rules: act with integrity; act with due skill, care and diligence; be open and cooperative with regulators; pay due regard to customers and treat them fairly; and observe proper standards of market conduct. They set the minimum behaviour expected of almost everyone in a UK regulated firm.
- Who do the Conduct Rules apply to?
- The Conduct Rules apply to almost all employees in a firm under the Senior Managers and Certification Regime (SM&CR), with very limited exceptions for purely ancillary staff such as receptionists or caterers. Senior Managers are also subject to additional Senior Manager Conduct Rules covering their management responsibilities.
- How often is Conduct Rules training required?
- Firms must train staff so they understand how the Conduct Rules apply to their role. There is no fixed statutory interval, but the FCA expects training to be appropriate and kept current; an annual refresher is the common industry standard, with additional training when rules change or a person's role changes.
- When must a Conduct Rules breach be reported to the FCA?
- Firms must notify the FCA of disciplinary action taken against a person for a Conduct Rules breach. For Senior Managers, notification is required within seven business days; for other Conduct Rules staff, breaches are reported annually via the REP008 return. Firms should record and assess suspected breaches as they arise.
- What is the difference between the Individual and Senior Manager Conduct Rules?
- The five Individual Conduct Rules apply to almost all staff and set baseline standards of behaviour. The four Senior Manager Conduct Rules apply additionally to SMF holders and cover management responsibilities: taking reasonable steps to run their area effectively, ensure compliance and delegate appropriately, and disclose relevant information to regulators.
- Do the Conduct Rules cover non-financial misconduct?
- Yes. The FCA has confirmed that serious non-financial misconduct, such as bullying, harassment and discrimination, can breach the Conduct Rules, particularly the integrity rule and the requirement to act with due skill, care and diligence. From 2026 firms face strengthened expectations to address such behaviour, making it an important training topic.
- How do the Conduct Rules relate to SM&CR?
- The Conduct Rules are one of the three pillars of the Senior Managers and Certification Regime, alongside the Senior Managers Regime and the Certification Regime. Training staff on the Conduct Rules is a core SM&CR obligation, and Conduct Rules breaches feed directly into the regime's individual accountability and reporting framework.
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