Sants incentives speech 'a shot at commission'

At last week’s Association of Private Client Investment Managers and Stockbrokers (APCIMS) conference, Sants said firms using incentive schemes such as bonuses breach the treating customers fairly (TCF) principle. He said the regulator has come across several cases where firms have failed to consider its clients before implementing reward schemes. However, Simon Morris, a partner at CMS Cameron McKenna, says regulation means the popularity of reward schemes has fallen in the past 20 years. He believes it is more likely Sants made the comments as a veiled way of highlighting the FSA'...