Financial Conduct Authority  

MP backs FCA strike action

Staff across the regulator have been ‘working to rule’ since May, it explained and therefore the workforce have withdrawn the regular overtime and additional work they currently do outside of their contractual duties.

Unite general secretary Sharon Graham, said: “The FCA is in a deep crisis but it’s a crisis of its own making. Unite is determined that this workforce does not pay the price for appalling management decisions, which is why our members are taking strike action because they want to be represented by their union.

“The FCA can restore confidence if it chooses to.  It is very simple: they can work with Unite to improve pay, terms and conditions and, accept the desire of this workforce to be represented by our union, or they can face ongoing strike action.”

Graham added: “One thing is certain, Unite’s members at the FCA have their union’s unwavering support in this fight for respect and representation.”

Unite has also made it clear to management it will meet through ACAS to resolve the dispute.

An FCA spokesperson said: “The vast majority of colleagues have decided not to strike and we are operating as normal. We acknowledge the decision by Unite members, however, and respect the strength of feeling of some colleagues about changes we have made.” 

FTAdviser understands a total of 240 colleagues recorded themselves as having taken part in some or all of the last two-day strike.

It is estimated that 294 out of 4000 (8 per cent) of colleagues voted to take strike action at the time of the ballot.  

In March, Unite submitted an application to the Central Arbitration Committee (CAC) for formal recognition for collective bargaining for all colleagues below head of department level at the FCA and PSR.

However, in May, the CAC reviewed the union application and decided it was not admissible to proceed, suggesting that in the CAC's view, Unite was not able to demonstrate that a majority of colleagues would be likely to be in favour of recognition.

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