Treating customers fairly

Our commitment to Treating Customers Fairly (TCF)

We are committed to supporting the FCA Handbook's principle that a firm 'must pay due regard to the interests of its customer and treat them fairly'. Through TCF the FCA aims to:

  • Help customers fully understand the features, benefits, risks and costs of the financial products they buy.
  • Minimise the sale of unsuitable products by encouraging best practice before, during and after the sale.

We are here to support you in ensuring that our customers are treated fairly and receive the correct outcome for their personal needs.

As a reminder, here are the FCA 6 consumer outcomes:

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.

We are pleased to support and encourage you to use TCFinfo.co.uk. It’s a great source of information, practical advice and user-friendly guidance on the FCA principle of treating customers fairly which underpins the Mortgage Market Review (MMR) aimed specifically at mortgage brokers and intermediaries. There are toolkits and checklists to make embedding TCF successfully straightforward and manageable.

TCFinfo also offer a quarterly e-newsletter which we’d encourage you to sign up to. The e-letter includes free TCF information and surveys to keep you up to date on regulatory issues.

For more information please visit the FCA website www.fca.org.uk