Statement on wind-up of FSCB

Statement from Nikhil Rathi, Chief Executive of the FCA, on the wind-up of The Financial Services Culture Board (FSCB)

"The Financial Services Culture Board (FSCB) has supported industry in taking huge strides to improve culture following the financial crisis. Everyone at the FSCB should be proud of the huge body of work it has undertaken to understand what we mean by culture within financial firms, how we measure it and, crucially, how we change it for the better. It has been our pleasure to work closely with them on much of this work and I want to pay particular tribute to Alison for her leadership on this vital issue across industry.

As the FSCB notes, however, the job of developing and maintaining good workplace cultures is not done and indeed will never be complete. As we continue the work with the firms we regulate, particularly as they implement our new Consumer Duty, we will draw on many of the lessons the FSCB has helped us learn."