What happened?
TCC Group’s James Marshall featured in Money Marketing, discussing why firms should be aiming to beat the FCA’s expectations on risk management rather than simply meeting them.
Why does it matter?
Aiming only to meet minimum regulatory expectations leaves firms with little margin when those expectations rise or when supervisory scrutiny increases. Setting a higher internal bar for risk management gives firms more confidence that they can withstand closer examination.
Supporting sources
Frequently asked questions
Why should firms aim to beat FCA risk management expectations rather than just meet them?
Because minimum compliance leaves little margin when expectations rise or scrutiny increases, whereas exceeding them builds greater resilience.
Who spoke to Money Marketing about this?
TCC Group’s James Marshall discussed why firms should aim to exceed the FCA’s risk management expectations.
Which firms does this apply to?
It applies to firms across banking, wealth management, insurance and consumer credit that are assessed against FCA risk management expectations.
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