Opinion: Ethics consultant Duncan Minty on the FCA's radical approach to regulation
Taking a radical approach: Duncan Minty asks if brokers are on the threshold of predictive supervision?
Mis-selling has been a perennial problem and over the years it has affected all lines of business. So tackling it will always be a priority for any regulator. In the last few years, the UK regulator’s approach has changed, radically. Brokers should prepare for a new regulatory experience.
The Financial Conduct Authority (FCA) has been experimenting with algorithmic techniques to predict the probability and location of an intermediary mis-selling a product. And the keyword here is ‘predict’.
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