As part of the FCA’s TCF initiative, tfirms are expected to demonstrate that: –
- They are integrating TCF into their business culture
- They have the appropriate MI or measures in place to test whether they are treating their customers fairly including by delivering the six TCF consumer outcomes
- The MI demonstrates to them and to the FCA that they are consistently treating customers fairly and delivering the consumer outcomes
- There are processes in place that monitor the MI to enable the right people to act
Treating Customers Fairly (TCF ) Training
Adhering to the Treating Customers Fairly (TCF) principles is a mandatory FCA requirement, with the regulator stating: –
“We expect customers’ interests to be at the heart of how firms do business. Customers can expect to get financial services and products that meet their needs from firms that they can trust. Meeting customers’ fair and reasonable expectations should be the responsibility of firms, not that of the regulator.”
Training employees in how to meet and exceed the TCF requirements and understand the treating customers fairly outcomes is essential for those regulated by the FCA, but is also becoming a staple business practice for many other sectors as well.
Ensuring that all customers receive fair, unbiased and consistent treatment not only protects a firms reputation, but also increases customer satisfaction and revenue.
Areas such as removing after-sales obstacles; having a robust complaint procedure and disclosing mandatory information needs to be understood by all employees. Our TCF Training Package provides ready to use, but fully customisable content to deliver a compliant TCF training session in-house.View our TCF Training Package!
Sample page from extensive trainer notes.
Why Choose SELF-DELIVERED Training?
Why PowerPoint? In today’s digital age, many commercial training sessions are now delivered via Learning Management Systems (LMS), offering users the ability to complete training online, individually and in their own time. Whilst we advocate the use of LMS training in many categories, compliance is not one of them!
We know the benefit and importance of human interaction when it comes to delivering and understanding complex regulations and legislation, and whilst online training has its upsides, it loses the human element that is so often essential in ensuring that training is effective, adequate and absorbed.
With our complete training packages, you can customise the content, format and syle to suit your business needs and requirements, as well as benefitting from a one-off cost for unlimited training sessions.View all self-delivery training packages
Sample slides from the TCF Training Package.
We will be purchasing again!
We have purchased training packages from Know Your Compliance and although we were compliant with online annual training, the in-house delivery and trainer notes have meant that all staff will be trained by their manager(s), on induction, it allows for drilling down, for better understanding with experiential learning.
Ordering was very straightforward and the products purchased represented very good value for money – we will definitely be looking to purchase other training materials from KYC…
Janet Burke / Ideal Corporate Solutions