FSA to intensify focus on failing TCF firms

In its ‘Treating Customers Fairly initiative: progress report’ published this morning, the regulator says 93% of major retail firms, 87% of medium-sized firms, 74% of wholesale firms and 41% of small firms met the deadline. Firms had to be “implementing the necessary TCF changes in a substantial part of their business” by the March 31 deadline. However, the FSA points out its assessment of small firms – carried out via a “statistically valid” telephone survey of 659 companies – was carried out in December 2006 and January 2007 and admits some companies may have made improvements in the ...