​Treating Customer Fairly

Treating Customers Fairly (TCF) is an outcomes based regulatory and supervisory approach designed to ensure that regulated financial institutions deliver specific, clearly set out fairness outcomes for financial customers. Regulated entities are expected to demonstrate that they deliver the following six TCF Outcomes to their customers throughout the product life cycle, from product design and promotion, through advice and servicing, to complaints and claims handling:

• Customers can be confident they are dealing with firms where TCF is central to the corporate culture
• Products & services marketed and sold in the retail market are designed to meet the needs of identified customer groups and are targeted accordingly
• Customers are provided with clear information and kept appropriately informed before, during and after point of sale
• Where advice is given, it is suitable and takes account of customer circumstance
• Products perform as firms have led customers to expect, and service is of an acceptable standard and as they have been led to expect
• Customers do not face unreasonable post-sale barriers imposed by firms to change product, switch providers, submit a claim or make a complaint.