Customers expect financial services and products that meet their needs from firms they can trust. The fair treatment of customers should be at the heart of every Consumer Credit business and firms should be able to demonstrate this.
Treating customers fairly is a requirement for all regulated firms, no matter their size or the nature of the activities they undertake. The way in which firms ensure that they meet that requirement should, however, be proportionate and relevant to their size and activities.
This workshop considers the FCA’s six TCF Outcomes that they expect firms to strive to achieve, how these might be achieved within both a firm’s culture and within its risk management framework.
Attending this one-day briefing will help attendees understand:
• What are the 6 TCF outcomes that they expect firms to strive to achieve
• Twin Peaks Regulation and specifically how the FCA supervise the Consumer Credit Market
• How firms are classified under SM&CR – what this means from an FCA oversight and supervision perspective
• Culture – What is it, how does it develop, how does a firm control it and what regulatory expectations surround it
• The TCF implications for the product provider – distributor relationship
• How a firm might assess their performance against the regulatory TCF outcomes
• How the newly introduced Conduct Rules align to the good treatment of customers and what part each employee has to play