Half of the Association of Mortgage Intermediaries' members have yet to reach the ‘implementation' stage of the treating customers fairly principle, according to the association's latest census.
The survey of AMI members reveals 19% have embedded TCF, while 29% are in the process of implementing it. A further 20% of respondents say they are at the ‘strategy and planning’ stage, while 27% are ‘aware’ of TCF. The FSA has issued a deadline of 31 March for all firms to have implemented TCF in a ‘significant’ part of their business, and 85% of AMI firms say they are confident of implementing their TCF strategy in time. In addition, 72% of firms say they have conducted a TCF review, with 57% having made at least a few changes as a result, including changes to the information given ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
