This week's Investment Week Articulate page urges clarification from the Financial Services Authority on its latest publication concerning principle-based regulation of the industry. If there's a subject you'd like to see explored on this page, please email: [email protected]
In this industry, one of the current big ideas is principle-based regulation under the clarion call of Treating Customers Fairly (TCF). The FSA's latest paper on this subject, Building on Progress, has just been published. It is required reading but it risks misleading the reader on two counts. The first confusion surrounds the question of its target - be under no illusion, TCF applies to all companies - product providers, investment firms and financial advisers. At the moment few intermediaries have engaged with the subject and they could be forgiven because the whole thrust of this la...
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