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The Federal Reserve Board has taken significant disciplinary action in response to sexual harassment complaints, firing four staff members and disciplining five others. Between 2020 and 2023, the Board received 11 complaints alleging sexual harassment, which led to the disciplinary measures against nine staff members. This disclosure sheds light on the Board's handling of such cases. In a broader context, the finance industry in the UK has seen a surge in non-financial misconduct complaints, with reports of bullying, discrimination, and harassment rising nearly 60% over the same period. The Financial Conduct Authority's recent survey highlights that more than one-third of firms did not report such cases to their boards, indicating a troubling trend in the industry's approach to misconduct.
The number of bullying, sexual harassment and discrimination claims at City firms skyrocketed between 2021 and 2023, according to new survey results by the financial watchdog. The Financial Conduct Authority said its so-called non-financial misconduct survey showed the number of… https://t.co/fp1F7xfgX7
Reports of bullying, discrimination and other non-financial misconduct in Britain's finance industry surged almost 60% over three years to 2023 - and more than one third of firms did not report such cases to their boards, a regulatory survey showed https://t.co/3VatTyzv7B
City firms reported a 72% surge in non-financial misconduct complaints over the last three years following a string of high-profile scandals including sexual harassment allegations leveled at hedge fund chief Crispin Odey https://t.co/s29BYWp9dK
