The Financial Conduct Authority (FCA) has vowed to be tougher on workplace sexual harassment.

The City watchdog will set out a crackdown on perpetrators and firms failing to punish them in a consultation paper this week. 

Guidance will be published on ‘serious instances of harassment and bullying’ and explain how ‘non-financial misconduct’ is part of the regulator’s test for financial service workers to be ‘fit and proper’.

Crackdown: The Financial Conduct Authority has vowed to be tougher on workplace sexual harassment

This summer hedge fund tycoon Crispin Odey was accused by 20 women of sexual misconduct. Odey ‘strenuously’ disputes the claims.

The allegations shone a spotlight on the FCA’s oversight of Odey’s asset management firm, which had been under investigation for two years before claims were made in the media.

Nikhil Rathi, chief executive of the FCA, told The Telegraph: ‘Financial services workplaces need to be safe places for women.’