FSA warns on TCF failings in investment and post life insurance

clock

Firms must speed up Treating Customers Fairly (TCF) improvements if they are to meet next year's deadlines particularly in investment and post life insurance areas, the FSA warns.

The regulator today released its 'Treating Customers Fairly: measuring outcomes' report, which calls on “renewed energy and drive” from firms before the 2008 deadlines. By March next year, firms must ensure appropriate management information measures are in place, while they must be able to demonstrate they are treating customers fairly by December. The FSA found progress has already been made in financial promotions, especially on mortgage and general insurance disclosure. However, it is “disappointed” with weaker areas such as key features documents for investment products and post-s...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

FCA delays portfolio management SDR implementation

FCA delays portfolio management SDR implementation

'We no longer intend to publish a policy statement in Q2 2025'

Cristian Angeloni
clock 17 February 2025 • 1 min read
Human behaviour: Assessing attitudes to risk over the lifetime

Human behaviour: Assessing attitudes to risk over the lifetime

Exploring financial personality dimensions

Louis Williams
clock 14 February 2025 • 4 min read
The last straw: VAT on school fees piles pressure on stretched family finances

The last straw: VAT on school fees piles pressure on stretched family finances

VAT of 20% now applies to school fees for education provided on or after 1 January

William Rollin and Alexandra Hirst
clock 14 February 2025 • 4 min read