A compliance can of worms?

Love it or hate it, the ‘Treating Customers Fairly’ initiative looks set to become big news in the compliance field. Duncan Wood talks to those both for and against it

A polar bear used to live at the city zoo in Cologne, Germany. It had once belonged to a circus, and now lived in a reasonably large enclosure but used only a tiny fraction of the space – years of confinement in a narrow trailer meant it now paced up and down as though trapped within an invisible prison. Financial institutions in the UK may soon find themselves in the same situation.

Firms have been promised freedom from the mass of minutely detailed rules that currently tell them how to serve

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