Companies are still not satisfying the FSA's Treating Customers Fairly initiative. Lucy Quinton takes an in-depth look at what is expected of firms and where they are going wrong
The Financial Services Authority (FSA) has made Treating Customers Fairly (TCF) the bedrock of its regulatory regime and will be looking closely to ensure the industry is implementing TCF as part of its broad principles-based approach. All firms should be delivering on the six consumer outcomes that the FSA has stipulated. The six consumer outcomes should be endemic within corporate culture, marketing, consumer groups, consumer information, advised sales and products. Angus Maciver, insurance business director at Prudential, says this is what companies should do naturally. "It is just go...
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