UK FSA issues norms to help firms avoid schemes that result mis-selling.

The article reports that the British Financial Services Authority (FSA) has issued a final guidance that will help prevent the creation of operating schemes that drive mis-selling among financial firms. According to FSA head Martin Wheatley, the guidance provide examples of good and bad practice particularly on how firms use performance management and target setting where mis-selling is more likely to occur. The guidance also makes it clear that firms need to manage these risks.