Applying COCON to standard NEDs will help raise standards of conduct and reduce the risk of future misconduct and mis-selling in companies. This Policy Statement (PS) introduces final rules to extend our Code of Conduct Sourcebook (COCON) to standard non-executive directors (NEDs) in banks, construction credit companies, credit unions and doubly regulated investment companies (“banks”) and insurance companies. This policy statement applies to banks subject to the Executive and Assurance Regime (SM&CR), insurance companies subject to the Prudential Regulation Authority`s Senior Insurance Executive Scheme (SIMR) and the FCA`s revised Authorised Persons Scheme, as well as standard NEDs within these companies. These new rules are part of the new liability rules introduced for banks and insurers in March 2016. Please fill out this form if you need this content in another format.