Staff at the UK’s main financial regulator the Financial Conduct Authority (FCA) will be allowed to work at home three days a week for the next couple of years at least.
At a time when many banking and financial firms are ordering staff to return full-time, the regulator says that until 2026 staff will only need to spend 40% of their time in the office.
According to Bloomberg, the FCA told staff it will review the home working policy next year but until then three a week at home is allowed.
Senior managers have to spend 50% of their time in the office but this is out of line with several large banks such as Goldman Sachs and Morgan Stanley (NYSE:MS), where senior staff have to come in five days a week.
UK banks are less demanding with Lloyds asking staff to work in the office three days per week.
Santander recently upped its office requirement to three days a week from two.
In the memo seen by Bloomberg, the FCA said working from home can “sometimes provide a better environment for more focused work” and leads to an “improved work-life balance”.
The FCA said: “Companies and organisations across the economy are considering what way of working is best for them and their people.
“To give our colleagues certainty about our long-term approach to hybrid working we’re undertaking a review, considering practices elsewhere, what the latest research shows, colleagues’ views and our organisational needs.”