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Vedder Thinking | News Sam Tyfield Discusses FCA’s Focus on Work Environments and Company Culture in Complinet

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The UK Financial Conduct Authority (FCA) has recently made a big push to encourage financial services firms to improve “workplace culture, employee’s sense of psychological safety and overall behavior,” deemed, the CultureSprint.

Some, including London Finance & Transactions Partner Sam Tyfield, are skeptical about the impact the CultureSprint video series and suggestions would actually have on a company’s culture and employees’ well-being. Mr. Tyfield noted the issues and pitfalls of this structure in Complinet.

"The FCA has a massive push on culture and conduct but hasn't really said what constitutes good or bad culture. A recent video from the FCA of a brainstorming workshop it ran on improving culture seems to show that the FCA would agree that pot plants and motivational slogans on office walls could improve office culture,” said Mr. Tyfield. “Responsibility statements and town hall meetings by senior management are one thing, but I should be surprised if showing a FCA supervisor one's office yucca during a site visit would do much good."

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Sam Tyfield