Slowdown may prevent firms meeting TCF targets

FSA: latest Risk Outlook highlights concerns that firms may be distracted from issues like treating customers fairly in the current economic environment

Increased financial pressures in the current environment may force groups to shift efforts away from meeting requirements like treating customers fairly (TCF), according to the FSA's latest risk outlook. However, commentators said that any such problems will likely be confined to smaller outfits. In its latest Financial Risk Outlook (FRO), which warns of the risks inherent in a significantly less-benign economic environment, the FSA said there is an increased chance firms will not meet the December 2008 deadline for TCF. The regulator said it has seen little progress in some sectors a...