Small company FDs under FSA radar
Regulator to target senior managers at small companies
Finance directors at small companies could be targeted by City watchdog the
Financial Services Authority as part of its
enforcement regime for treating customers fairly (TCF).
The FSA announced that it would be targeting ‘senior managers at small
head of retail enforcement Jonathan Phelan said that the increased scrutiny
of both firms and individuals was designed to reinforce the importance of senior
The warning comes just weeks before the March final deadline for TCF
Phelan said: ‘Even within small firms, senior managers bear the
responsibility for making sure the outcomes are the right ones for consumers.
They’ve got to make sure their firm is run properly, with proper controls, to
ensure customers are treated fairly.’