Conduct Risk – Treating Customers Fairly (TCF)

Every employee within a business who has dealings with clients must be aware of the TCF principal.  This will ensure that ALL clients are treated fairly regardless of the matter type and service they have purchased from you.

Conduct Risk – TCF is a Finance Conduct Authority Sourcebook principle that aims to raise standards in the way firms carry on their business by introducing changes that will benefit consumers and increase their confidence in the financial services industry.  As you are already aware, the SRA recognises Conduct Risk – TCF as a core outcome of Chapter 1 (Client Care) of the 2011 Code of Conduct Handbook.  You are expected to implement and embed the Conduct Risk – TCF ethos within your firm to ensure the desired client outcomes are achieved.

There are 6 desired core client outcomes that should be considered.  Firms that are unable to demonstrate how they are working towards this goal are likely to be required to take action by the regulator. Therefore, all firms should ensure that they have a robust Conduct Risk framework in place which is proportionate to their size and the risks that they face.

Conduct Risk – TCF is about a culture – doing business in a way that will help ensure customers get fair treatment.

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