Treating Customers Fairly
Treating customers fairly was a major plank of the FCA's approach to principle based regulation and remains a key focus for Conduct Risk. TCF remains a key area of focus for the regulator. The FCA continues expect Management Information (MI) to be in place to demonstrate TCF is happening in practice but this should not be a series of tick boxes but a way of demonstrating that TCF happens in practice.
Embedding TCF is a challenge and that is certainly what I have found from the TCF workshops I completed with the FLA. How to meet the challenge of combining regulatory with non-regulated parts of the business but still have a TCF culture that meets both business requirements as well as satisfies the regulator. Clearly a single cutlure is required if TCF is to be achieved a path to cultural change necessary that will assist with embedding TCF in your organisation.
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