Managing conflicts of interest to mitigate conduct risk
The renewed focus in the UK on conduct risk means firms must ensure that their conflict management policies and procedures are fit for purpose. John Ahern, a partner at law firm Jones Day, looks at the obligations firms now face when attempting to mitigate conduct risk
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
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