What's Up?

It’s always difficult to comment on what you don’t understand and despite the fact that the DTC announced the CPQ results and provisional list over 3 weeks ago we are still waiting for the feedback which would at least have given Sightholders and their brokers hopefully some understanding of the outcomes as well as the opportunity to evaluate how the process worked, undeniably to the advantage of some but also to the severe detriment of others.

If there is the confidence that is claimed by DTC in the robustness and rigour of this process then the feedback should hopefully provide the rational explanations that are required to demystify a process which seems to start off as relatively transparent but becomes increasingly opaque as it progresses. Even more importantly, for a business whose reputation and credibility is based around checks and balances as well as sound management and judgement, it is difficult to see how some of the outcomes have been reached or evaluated in terms of either business coherence or indeed in some cases best practice.

The DTC has the procedures in place (internal verification, third party verification, BPP and ultimately the Ombudsman) to ensure that those cases that are both contentious or indeed controversial, as some clearly are(!), are fully and properly addressed before the full and final list is announced in March. This will be the real test of whether this process and its outcomes are genuinely robust and convincing and, of course, the DTC will be judged (as we all are eventually) on actions rather than words.