Managing conflicts of interest to mitigate conduct risk

Financial institutions must ensure clients' interests aren't compromised

john-ahern
John Ahern, Jones Day

Recent activity by the UK Financial Conduct Authority (FCA) underlines the attention that firms need to pay to conduct risk in the operation of their businesses. Conduct risk has been the subject of much focus since the treating customers fairly (TCF) project got under way in the UK in 2002. Things have moved on considerably since then and at this stage, the regulatory expectation is that TCF is firmly embedded in firms' processes and cultures. The management of conduct risk, put at its simpl