All firms will be tested on the principles of treating customers fairly (TCF) from January 2009 as the FSA accelerates its implementation programme.
As a result of the change the regulator will not be publishing a report based upon structured sampling of firms due to resource issues. Originally, the FSA had intended to test firms on TCF as part of normal supervisory procedures in September 2009. This has now been moved forward to January, immediately following the December deadline. The FSA claims the change will allow firms and consumers to realise the benefits of the TCF initiative more quickly. Assessment will be through the FSA’s 'risk-responsive operating framework', called ARROW, and will form part of the regulator’s three-yea...
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