Treating Customers Fairly (TCF) is a topic which is very high on the FCA’s agenda. The FCA expects TCF to be central to firms’ business models and culture with the consumer being at the heart of everything they do. Firms are required to demonstrate that they consistently treat their customers fairly and are delivering their services against the TCF outcomes relevant to their business.
The FCA places responsibility on senior management to embed TCF in the culture of their businesses. This allows firms some degree of flexibility in approach but, it is imperative that they get it right – where the FCA finds failings in a firm around TCF it will use its full regulatory powers to take action.
Are your customers at the heart of your business? They should be.
Read our recent blog posts on TCF
- FCA highlights the importance of TCF in TR15/3 Relating to the HCSTC Market
- Establishing and maintaining an FCA compliance system
- CONC 6 months on
- Treating Customers Fairly: Complying