FCA concerned about compliance 'for the sake of it'

Speaking at a Distribution Technology conference in London yesterday, Percival (pictured) said the regulator has been looking into what may be excessive compliance, as firms try to ensure they don't fall foul of the rules on treating customers fairly (TCF). The FCA holds TCF as "central" to its expectations of firms' conduct, "that firms put the well-being of customers at the heart of how they run their businesses". Firms view compliance as a key way of ensuring they meet this commitment. However Percival said the regulator has seen examples of unnecessary compliance, the costs of whi...