Treating customers fairly
Treating customers fairly (TCF) is central to the delivery of our retail regulatory agenda as well as being a key part of our move to more principles-based regulation.
Latest update on the TCF initiative
Please see our latest update on the TCF initiative in November 2008, which reminds firms what is required of them and explains how firms will be assessed.
- FSA update on the Treating Customers Fairly initiative and the December deadline [PDF]
- Press release: FSA statement on the Treating Customers Fairly initiative
Our retail regulatory agenda aims to ensure an efficient and effective market and thereby help consumers achieve a fair deal. We aim through our TCF work to deliver improved outcomes for retail consumers as outlined in our July 2006 publication 'Treating customers fairly – towards fair outcomes for consumers'. [PDF]
The six TCF outcomes
We have defined six consumer outcomes, which explain what we want TCF to achieve for consumers.
Outcome 1: Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.
Outcome 2: Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.
Outcome 3: Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
Outcome 4: Where consumers receive advice, the advice is suitable and takes account of their circumstances.
Outcome 5: Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect.
Outcome 6: Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.
