The Financial Services Authority has recognised measuring the progress of the 'treating customers fairly' initiative will be difficult for firms and the regulator itself.
Speaking at an FSA conference on TCF yesterday, Clive Briault, managing director of retail markets at the FSA, said the amount of information available and the absence of a single definitive metric would make it difficult for firms and the regulator to “focus on what is really important”. Briault admits no matter how much data is collected, information is often difficult to interpret and, in addition, it needs to drive actions rather than just tell a story. He states: “It poses challenges, which apply equally to us and to firms.” In the absence of a single definitive metric, Briault s...
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