Fifth of firms will fail Dec TCF deadline - FSA

In its latest progress update, the regulator says only 80% of relationship-managed firms are “still capable” of meeting the deadline after examining the management information (MI) progress at 96 firms. However, it says this hints at great progress after pointing out only 13% of the 96 firms met its March TCF deadline. The FSA, which says it will not be publishing small firms’ progress until later in the year as it has “not yet assessed a representative sample of this group”, is now urging all companies to step up their TCF efforts. Sarah Wilson, FSA TCF director, says: “Having appropria...