Observing confusion around the difference between good conduct and treating customers fairly, Rebecca Prestage of The Consulting Consortium revisits the regulator's distinction.
With the Financial Conduct Authority’s (FCA) perpetual message focusing on its desire for firms to place customers at the heart of their businesses, doing what they ‘should’ do as opposed to ‘could’ do, could it be that such firms are forgetting about basic principles? We have seen advisers displaying some confusion about the difference between good conduct and treating customers fairly (TCF). A question that comes up again and again is: is it not the same thing but under a different name? The straight answer is no. The slightly longer answer is that it is a point of principles. The ...
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