T C F Treating Customers Fairly T C F Know Your Comp iance Know Your Compliance www.knowyourcompliance.com Compliance Infographs Support Remind Engage 1) Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture. CONSUMER OUTCOMES Remove barriers & obstacles to post-sale advice & complaints. (Readily available info, visible contact details & simple complaint processes.) Use feedback, customer surveys & complaints. (Customer communication shows what is working & which areas have gaps and need improvement.) Products, services & advice are suitable and targeted. (Customers’ situations, needs & requirements are identified & met.) 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. 3) Consumers are provided with clear information and kept appropriately informed before, during and after the point of sale. 4) Where consumers receive advice, the advice is suitable and takes account of their circumstances. 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. 6) Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint. KEY WORDS Transparent Fair Clear Open Honest Suitable Informative Expectation Appropriate Integrity Ethical Obligation Fair treatment of customers should be at the heart of a firm’s business model FCA Principle 6 ‘A firm must pay due regard to the interests of its customers and treat them fairly’ Consumers should be informed; confident in their knowledge and capable of making decisions. Information should be easy to read & access Text should be jargon free and legible Consumer needs are understood & met Advice should be relevant and suitable Changing products, switching providers and raising a complaint should be straightforward to do. Policies & Procedures Staff Training, Testing & Awareness Effective Complaint Handling Audits & Monitoring Advice, Sales & Marketing Risk Assessment & Management TCF requires a universal approach Self-Assessment & Checklists Record Keeping & Management Information

TCF Treating Customers Fairly TCF - Know Your … · TCF Treating Customers Fairly TCF Know Your Comp iance Know Your Compliance Compliance Infographs Support Remind Engage

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T C FTreating Customers FairlyT C F

Know YourComp iance

Know Your Compliancewww.knowyourcompliance.com

Compliance InfographsSupport Remind Engage

1) Consumers can be confident that they are dealing with firms where the fairtreatment of customers is central to the corporate culture.

CONSUMER OUTCOMES

Remove barriers &obstacles to post-saleadvice & complaints. (Readily available info,visible contact details &simple complaint processes.)

Use feedback, customer surveys & complaints. (Customer communication shows what is working & which areas have gaps and need improvement.)

Products, services & advice are suitable and targeted. (Customers’ situations, needs & requirements are identified & met.)

2) Products and services marketed and sold in the retail market are designed tomeet the needs of identified consumer groups and are targeted accordingly.

3) Consumers are provided with clear information and kept appropriately informedbefore, during and after the point of sale.

4) Where consumers receive advice, the advice is suitable and takes account oftheir circumstances.

5) Consumers are provided with products that perform as firms have led themto expect, and the associated service is of an acceptable standard and as theyhave been led to expect.

6) Consumers do not face unreasonable post-sale barriers imposed by firms tochange product, switch provider, submit a claim or make a complaint.

KEY WORDS

Transparent

Fair

Clear

Open Honest

Suitable

Informative

Expectation

Appropriate

Integrity

Ethical