Firms must speed up Treating Customers Fairly (TCF) improvements if they are to meet next year's deadlines particularly in investment and post life insurance areas, the FSA warns.
The regulator today released its 'Treating Customers Fairly: measuring outcomes' report, which calls on “renewed energy and drive” from firms before the 2008 deadlines. By March next year, firms must ensure appropriate management information measures are in place, while they must be able to demonstrate they are treating customers fairly by December. The FSA found progress has already been made in financial promotions, especially on mortgage and general insurance disclosure. However, it is “disappointed” with weaker areas such as key features documents for investment products and post-s...
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