FSA's box-ticking approach declared dead by FCA

Speaking to a group of financial services company CEOs on Tuesday, Adamson admitted it may have been the FCA's predecessor, the Financial Services Authority's fault that box-ticking infiltrated the market to the extent it did. But the FCA has overhauled its own approach and box ticking is off the agenda, he said. Adamson (pictured) was adamant that business conduct and the principle of treating customers fairly was not to be treated as a form of risk for which a compliance box can be ticked. The FCA published a new comprehensive guide on how it supervises firms and what it expects ...