2017 Training: Treating Customers Fairly Regime

Events | 23/01/17

Wednesday 5 April – Manchester
Wednesday 14 June – London
Wednesday 20 September – Birmingham

COURSE SYNOPSIS

Treating Customers Fairly (TCF) remains central to the FCA’s expectations of conduct, that firms put the well being of customers at the heart of everything they do and how they run their businesses. TCF, with its focus on consumer outcomes, underpins the delivery of the FCA’s statutory consumer protection objective and the future objectives of the FCA.

THE FACTS

All firms must be able to demonstrate that they are consistently delivering fair outcomes to consumers and that senior management are taking responsibility for ensuring the firm and staff at all levels deliver the six published consumer outcomes relevant to their business through establishing an appropriate culture.

The FCA use those required outcomes as an important factor in guiding regulatory decisions and actions.

In addition to the above, the FCA expect firms to make use of suitable Management Information (MI) to monitor the outcomes that they are achieving for customers, it is important that MI is forward looking (enabling management to identify risks to customer outcomes rather than dealing only with known issues), and that it is acted upon when necessary. The Senior Management Arrangements, Systems and Controls Handbook (SYSC) then becomes relevant.

When considering firms responsibilities to treat customers fairly, certain principles from the Principles for Businesses (PRIN) are also relevant. The key principle for firms to consider is Principle 6: ‘A firm must pay due regard to the interests of its customers and treat them fairly’. However, firms should also consider their regulatory obligations under the other principles, which also contribute, to ensuring that customers are treated fairly.

COURSE AIMS

To provide delegates with:

  • an understanding of the FCA’s TCF regime
  • an understanding of the TCF link to the Principles for Businesses (PRIN), Senior Management Arrangements, and Systems and Controls Handbook (SYSC).

COURSE CONTENT

  • a review of the TCF regime and expected firm culture
  • an explanation of the six published expected consumer outcomes
  • a high level review on how to deliver TCF including:
  • compliance with the relevant Principles for Businesses and SYSC
  • insight into Management Information for evidential purposes.

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