FSA to apologise for conduct of 'bully' TCF assessors

clock

The FSA has said it will apologise to a firm's compliance officer for the conduct of two treating customers fairly (TCF) assessors during a supervisory visit after an official complaint was upheld.

Complaints Commissioner Sir Anthony Holland castigated the regulator's staff for allowing their relationship with the officer to "deteriorate" during the visit in September last year. The unnamed complainant had accused the FSA representatives of "bullying behaviour". Holland said he believed the officers did not, but should have, carried out the visit with a "more-than-usual degree of sensitivity", referring to a previous TCF assessment on which the firm and the FSA had disagreed. On that occasion, the firm said the TCF officer had initially decided the firm passed the assessment,...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Open letter slamming FCA email policy sent to regulator and government

Open letter slamming FCA email policy sent to regulator and government

'Alarming lack of consultation'

Beth Brearley
clock 20 March 2025 • 2 min read
Crispin Odey hit with £1.8m FCA fine and ban

Crispin Odey hit with £1.8m FCA fine and ban

FCA cites lack of integrity

Sorin Dojan
clock 17 March 2025 • 2 min read
Reeves to overhaul regulatory regime as part of growth drive

Reeves to overhaul regulatory regime as part of growth drive

FCA and CMA face changes

Sorin Dojan
clock 17 March 2025 • 2 min read