FSA to visit small IFAs as deterrent to anti-TCF behaviour

The regulator will select a representative sample of firms at the start of next year and hopes to eventually interview all small IFA businesses on their application of TCF. It will choose about a quarter of small firms, perhaps by region, and conduct telephone interviews or short visits before selecting firms for further investigation if the interviews raise concerns. The body will speak to senior management and staff in its extended visits and focus on the business’s systems, controls and files. FSA membership fees will cover the cost of the interviews and firms will then be given feed...