FSA threatens tough action following TCF report

The FSA is threatening tough action to firms who fail to commit to the Treating Customers Fairly pri...

The FSA is threatening tough action to firms who fail to commit to the Treating Customers Fairly principle, following news that only 41% of small firms met the latest TCF implementation deadline. Sarah Wilson, director at the FSA, said the assocation will intensify supervisory focus on any firm that has failed to sufficiently engage with TCF and include the use of enforcement where necessary. Progress on TCF was set out in a report published today, detailing firms' performance against the FSA's March deadline by which time they had to be implementing necessary change in a substantial pa...