Treating Customers Fairly - Frameworker
New web-based self-assessment tool
The Personal Finance Society is pleased to introduce members to ‘Small Firms tcf frameworker’, an innovative web-based Treating Customers Fairly (TCF) self-assessment tool from compliance specialists The Consulting Consortium.
The FSA’s deadline for firms to make the necessary risk assessments and embed the TCF principles into their businesses was 31 December 2008. TCF remains the FSA’s number one priority and dedicated supervision teams will be continuing assessments on 11,000 small firms throughout 2009 to ensure a firms approaches to TCF is appropriate and sufficiently well evidenced. FSA’s business plan for 2009 opened with “We will strengthen our supervisory focus on ‘Treating Customers Fairly’ (TCF). The embedding of the TCF agenda into our supervisory process is critical to ensure that it is an enduring feature of our regulatory regime.”, so it is not a question of ‘if’ the FSA will make contact, but ‘when’.
Assessments will be conducted on a regional basis. The South West was the starting point for 2009, with the South East (excluding London) expected to follow. The FSA will publish details of which regions will be next via their website.
Find out more about Small Firms TCF frameworker
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