FCA will struggle to kick 'tick box' culture - PSB

David McIntosh, who has been non-executive chair of the PSB for seven years, explained that he thought it may be difficult for the FSA to move from being a regulator that is widely regarded as 'tick box' and 'process focused' to one that focuses on outcomes instead. McIntosh was clear that he thought the FCA should have an outcomes-based approach but acknowledged that this is difficult because it requires objective judgement and understanding of the details of a situation. He described a 'tick box' regulator as one that punishes companies it oversees for a technical breach of the rule...