We may visit you at home, British financial watchdog warns bank staff


View of Canary Wharf business district at dusk in London, Britain March 9, 2021. REUTERS/Peter Cziborra

LONDON, Oct 11 (Reuters) – Britain’s financial watchdog warned banks and investment firms on Monday it could swoop on staff who work from home to check they are not harming customers or markets.

The Financial Conduct Authority (FCA) said firms that want to introduce ‘hybrid’, or a mix of home and office, working on a permanent basis must have their plans vetted by regulators first.

Many financial staff worked from home after Britain locked down the economy in March 2020 to fight COVID-19, but since then employees have begun returning part or full time to the office after restrictions were ended this summer.

Some firms have told staff that hybrid working is here to stay, but the FCA on Monday made it clear this could only be the case if they could show it won’t harm customers, damage the market, increase the risk of financial crime, or cut competition.

Read more…