Gilly Green, managing director of consultancy Sionic, said she was left in no doubt about the regulator’s intentions. ‘This letter says to me that the FCA is looking deeper and they’re definitely not happy,’ she said. […] She added: ‘We do a lot of work around the culture of compliance and how firms change their viewpoint around it from a box-ticking exercise to a change of mentality. We talk about how this needs to come from the top and that the board and senior level management have to put in place a moral compass.’
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