Treating Customers Fairly Policy
Treating customers fairly policy
Introduction
The Financial Conduct Authority’s (FCA) Treating Customers Fairly (TCF) Principle 6 requires a firm to pay due regard to the interests of its clients and treat them fairly. We are fully committed to TCF and this Policy has been designed to demonstrate the application of TCF during our day to day activities.
TCF is embedded throughout the FCA’s Handbook and the FCA’s six core consumer outcomes are embedded in our firm. These are:
- Consumers can be confident they are dealing with firms where TCF is central to the corporate culture.
- Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and targeted accordingly.
- Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
- Where consumers receive advice, the advice is suitable and takes account of their circumstances.
- Consumers are provided with products that perform as firms have led them to expect and the associated service is both of an acceptable standard and as they have been led to expect.
- Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.
- Customers will be provided with clear information and kept appropriately informed before, during and after the point of sale.
- If we give advice to our customers, the advice will be suitable and take account of their circumstances.
- Our level of service and product performance will meet the expectations of our customers as far as reasonably possible.
- We will ensure that there is no barrier for customers to express their requests, concerns or complaints, and will always be responsive to them.
- Products and services will be designed to meet the needs of our customers.
- Conflicts of Interest Policy
- Data Protection Policy
- Vulnerable Customers Policy
- Training and Competence Policy
- Financial Crime including Bribery & Corruption & Money Laundering
- Complaint Handling Procedures
- Financial Promotions Procedures
- We maintain a Compliance Monitoring Programme which clearly lists areas of responsibilities and the frequency of checks required.
- We have a compliance team who is independent and regularly monitors all key areas of regulatory compliance including TCF.
- Every year we carry out a TCF Self-Assessment to measure our performance and which highlights areas of improvement
- We encourage a culture of personal responsibility and impress upon all involved with our firm that a good culture is central to the economic health of our firm. We strive to build a strong conduct culture which builds both customer trust and inspires employees. Getting the culture and conduct right is in the interests of our economic strength and our shareholders.
- We frequently review our policies, procedures and practices to ensure that TCF remains central to our firm.
- We ask our clients to provide us feedback, sometimes formally through customer surveys, so which enables us to improve our service. The information we gather from our customers is reported in our MI and reviewed by senior managers, directors and board members to help shape any strategic decisions.