Conduct

Material risk in focus - November 2026

Concern around Conduct risk continues to fall, despite persistently high losses.

Conduct remains one of the most significant sources of losses and media attention, and yet its ranking in the Top Risk Review continues to decline in H2 2026

At a time when customer outcomes are receiving greater scrutiny from regulators and the wider public, firms must ensure their conduct risk frameworks keep pace with a changing environment. A key new concern includes understanding how AI adoption, automation, and evolving customer engagement models may introduce new conduct risks or reshape existing ones in ways that traditional approaches may not fully capture.