City firms rarely dock pay for misconduct, FCA survey finds

Watchdog found 40% rise in alleged bad behaviour, including sexual harassment and bullying, last year

City firms are only rarely docking pay and bonuses in cases of bad behaviour including sexual harassment, bullying and drug use, according to the industry's watchdog, which recorded a 40% rise in complaints about non-financial misconduct last year.

The findings are the result of the City regulator's first survey looking at the issue, which was launched in the wake of high-profile allegations of sexual harassment, including those against individuals at the Confederation of British Industry (CBI) lobby group.