TCF already at risk of descending into farce

Rumours are currently swirling round the industry of a few investment groups preparing to challenge ...

Rumours are currently swirling round the industry of a few investment groups preparing to challenge the FSA on ambiguities within its TCF regime. Based on the holes within the principles, this is hardly a surprise and is only likely to continue as more groups get their TCF visits over the coming months. If the situation continues as it is, a major directive with the hugely important issue of customer protection at its core risks descending into farce. The background is well known and finds fund groups trapped between the very prescriptive Coll rules on the one hand and the principles-...