Why you need to get tough on risk management

The FSA is taking a tougher stance when it comes to compliance-checking financial advice firms, to such an extent that the Association of IFAs (AIFA) has warned members the  regulator has “raised the regulatory hatchet” over the past 18 months as it implements, and seeks to demonstrate, its increasingly “intrusive” style of rule. The customer redress ruling at IFA firm, Park Row, earlier this year, reinforced the FSA’s stricter position as well as the importance of adhering to governance, risk management and compliance (GRC). Park Row, the former Royal Liver-owned distribution busines...