'Firms have a long way to go on Tcf'

Speaking at the Compliance Institute’s annual conference, Bland says many senior managers have yet to deliver improvements to Tcf further down their organisations, which affects areas such as disclosure and product design. For example, he says the FSA has found firms where staff remuneration continues to be dominated by commissions and other volume-related incentives, and where no attempt is being made to consider and manage the resulting conflicts of interest. In addition, he says there is a long way to go before many firms develop convincing management information to show whether they...