TREATING Customers Fairly (TCF) is the number one regulatory challenge and the prime area of regulatory risk for more than 80pc of the UK's financial services firms, according to research conducted by the Financial Services Discussion Club (FSDC) and Grant Thornton.
Senior managers in 75 financial services firms were surveyed and 83pc of them cited TCF as their top priority. The research also indicated that financial services firms have, by and large, made themselves ready for the TCF deadlines, with 91pc of firms saying they expected to meet the March deadline. Ian Gorham, head of financial services at Grant Thornton, said the media had played an important role in agenda-setting, and financial services firms should expect continuing media scrutiny, as the second (December 2008) deadline approached. He added: "There is some valid concern about wh...
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