TCF

Over 3000 IFAs have downloaded the JPMorgan Asset Management (JPMAM) Treating Customers Fairly report, in a bid to be compliant before the December deadline.

The FSA is running the risk of undermining TCF after announcing it will accelerate the full integration of the initiative into its day-to-day regulation of firms, the Financial Services Consumer Panel (FSCP) warns.

All firms will be tested on the principles of treating customers fairly (TCF) from January 2009 as the FSA accelerates its implementation programme.

The unsettling spectacle of markets crashing around us might have distracted the more routine aspects of advising clients in past months so advisers would be forgiven for parking Treating Customers Fairly (TCF) at the back of their minds.

Competent Adviser has released its TCF Toolbox to help mortgage brokers and IFAs meet the FSA's December deadline for full implementation.

Home Buyer Systems is launching a TCF review service for mortgage firms through its compliance support division, The Compliance Alliance.

The FSA has fined investment adviser TBO Investments Limited (TBO) £28,000 for failing to clearly document the explanation of transactions risks to clients.

Præmium has launched a range of UK funds using SMARTfund technology, designed to deliver transparent Customer Agreed Remuneration (CAR).

Three in ten advisers have yet to set up a website and may struggle to match their competitors as a result, according to IFA Promotion.

Understanding TCF By the end of December '08 all firms are expected to demonstrate to themselves and the FSA that they are consistently treating customers fairly.