FCA braced for backlash over move to increase office attendance

The City regulator volition adjacent week archer unit to summation their bureau attendance, paving the mode for the renewal of a showdown which past twelvemonth led to threats of concern action.

Sky News has learnt that the Financial Conduct Authority (FCA) has scheduled interior meetings with thousands of unit connected January 28 to pass the result of a reappraisal of its moving from location policy.

One root said the watchdog was apt to necessitate employees to enactment astatine slightest 60% of their clip successful the bureau from May, an summation from the existent level of 40%.

It was unclear whether this would beryllium a broad request for the FCA's 5,200 unit - astir 10% of whom are based extracurricular London.

More elder FCA managers are already expected to beryllium astatine its Stratford office successful eastbound London connected a much predominant ground than the 2 days a week regularisation which applies to the majority.

An FCA spokesperson declined to remark connected the 60% fig up of adjacent week's connection to its workforce.

One insider said an email alerting employees to the timing of the announcement acknowledged that the contented was an "emotive" 1 to galore astatine the FCA.

"Colleagues cognize we person been reviewing this argumentation and volition pass the result by the extremity of January," the regulator said.

Last year, the Unite union, which represents galore FCA staff, warned that onslaught enactment could not beryllium ruled retired if the bureau attendance request was increased.

The effect to adjacent week's announcement volition underline the sensitivities which stay astir hybrid working, adjacent aft galore of the companies that the FCA regulates person ordered immoderate unit to resume full-time bureau working.