Managing culture and expertise – a behaviour risk approach

Well, here we are starting to enjoy the barbeque season, writes Charles Cattell of The Cattellyst Consultancy. The dark days of winter and the implementation of MiFID are behind us, as is FSA’s March deadline for Treating Customers Fairly (TCF) and Christmas is a long way off (just like FSA’s next TCF deadline). So now is an ideal opportunity to reflect on some of the recent twists and turns in the regulator’s pronouncements about how we should be going about managing our people and, more importantly, what firms and compliance specialists should be doing about it.

The management of people within regulated businesses is a core issue yet FSA has tended towards a somewhat fragmented approach. The latest developments follow broadly what has gone before and information has been issued through a number of separate channels. Nonetheless these are all pointing in a similar direction so expectations have become increasingly clear as accepted practice builds up in the months following Handbook revisions.