Webinar Summary: Key video highlights and takeaways from our webinar with PIMFA and Clyde & Co on Wednesday 5 August 2026.
Click to read Webinar Summary | Non-Financial Misconduct (NFM): Is your firm ready?
Key highlights in this video workbook include:
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Why the FCA is interested in ‘grey areas’.
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Why training attendance doesn’t mean people understand.
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Why recording decisions are critical.
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Seven priority action points for firms.
Session Summary
On Wednesday 5 August 2026, Elephants Don’t Forget hosted a webinar examining the legal, regulatory, and operational challenges surrounding the FCA’s new Non-Financial Misconduct (NFM) rules and guidance.
Moderated alongside legal and policy experts – including Debbie Ives (Compliance Director at Elephants Don’t Forget), Shadia El Dardiry (Legal Director at Clyde & Co), and Maja Erceg (Senior Policy Advisor at PIMFA) – the discussion focused on how firms can move beyond policy updates to build robust, evidence-led compliance frameworks.
With 678 senior financial services professionals in attendance, polls conducted during the session highlighted variations in readiness. When asked, ‘How ready is your firm for 1 September 2026?’, just 13% of respondents described their firms as ‘very ready – policies, training, escalation and senior ownership are joined up’. A further 29% reported being ‘fairly ready’, though acknowledged that their evidence remains patchy.
The largest proportion (38%) indicated that implementation work was still in progress, while 21% were either not ready or unclear on where their organisation stood.
A secondary poll (multiple choice) exposed a particularly important evidence gap in how firms report readiness to their Boards. While 66% rely on training-completion data, 51% track culture indicators, and 38% report investigation outcomes, only 5% systematically test role-based understanding beyond mandatory training completion.
This brings into question whether demonstrating that an employee has completed an annual e-learning module proves they understand their specific obligations or possess the capability to apply that knowledge when complex, ambiguous scenarios arise in practice.
