Treating Customers Fairly
This training course provides an understanding of the importance of treating customers fairly (TCF). The course covers what TCF does and does not mean, the Financial Conduct Authority’s six key customer outcomes, and the delivery through the implementation of processes related to topics that include financial promotion, advising customers and handling complaints.
Geography Covered: EMEA | Duration: 30 minutes
A firm’s reputation is one of its most important assets, and by prioritizing customers’ interests a firm can protect and strengthen its reputation. This is not just a wise business practice, it’s the law. Treating Customers Fairly (TCF) is a key initiative of the Financial Conduct Authority (FCA) with the purpose of ensuring that authorized firms “pay due regard to the interests of their customers and treat them fairly.” This, in turn, should build consumer confidence in the financial services industry.
The FCA requires Treating Customers Fairly to be "embedded" into a firm's culture, which entails adhering to practices such as giving the customer what they have paid for, not taking advantage of the customer, offering the best product possible, making an effort to resolve complaints expeditiously, showing flexibility and empathy toward customers, and exhibiting clarity in all customer dealings. Firms that fail to treat customers fairly can receive large financial penalties from the FCA and suffer reputational.
The topics covered in the course include:
- Overview of the TCF initiative
- Principle Six
- Consumer outcomes
- Delivering TCF
- Real-world TCF scenarios
- Enforcement of TCF
Like with all our courses, the Treating Customers Fairly training course was written by experts and powered by world-leading regulatory intelligence, which tracks more than 900 regulators and exchanges globally to ensure the course content is always up to date.
All our training courses are driven by practical examples and interactive scenarios to ensure users truly understand and recognize the issues of most importance to your business and learn to instinctively act to support them.
We employ instructional design techniques optimized for risk and compliance training, enabling your business to educate in a way that reduces risk and helps you build a culture of integrity and compliance.