”Treating customers fairly (TCF) remains central to our expectations of firms’ conduct, that firms put the well-being of customers at the heart of how they run their businesses”

FCA 2014

The 6 TCF ‘outcomes’

These are the core values and principles the FCA wants to instill within all firms that carry out regulated activities and they will continue to be used as important factors in guiding regulatory decisions and actions.

OUTCOME:

  1. Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.
  2. Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.
  3. Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
  4. Where consumers receive advice, the advice is suitable and takes account of their circumstances.
  5. Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect.
  6. Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.

Eurodrive has committed significant resource in preparing the way for dealers to be able to comply with and manage these TCF requirements. If you would like help or guidance with any aspect of your application or on-going FCA compliance….

 

… Talk to us