AIFA issues case checking warning after Park Row censure

The Association of IFAs (AIFA) says the FSA has "raised the regulatory hatchet a notch or two" in the last 18 months as it seeks to demonstrate its "more intrusive" style of rule. Director general Chris Cummings says firms would be wise to assess their systems and controls procedures, particularly on case checking and record keeping, to ensure what the FSA considered TCF two years ago would still be considered so today. It follows the censure last week of the former Royal Liver-owned distribution business Park Row, which was ordered to redress up to £7.8m to customers. Its former CEO,...