Scottish firms prepare for inspection after Treating Customers Fairly deadline

Treating Customers Fairly (TCF) is the key topic up for discussion by members of the Financial Services Discussion Club in Edinburgh this month, as the FSA prepares to assess firms' progress with TCF programme

[ClickPress, Fri Apr 20 2007] Treating Customers Fairly (TCF) is the key topic up for discussion by members of the Financial Services Discussion Club in Edinburgh this month, as the FSA prepares to assess firms' progress with TCF programmes.

The financial regulator gave organisations in the UK until the end of March to reach at least the implementation stage of their work with TCF and have just begun to assess firms' progress.

Managing the provider / distributor relationship under TCF has been highlighted by club members as a critical issue and will be the primary topic of discussion at April's club meeting. Payment Protection Insurance, critical illness cover and mortgage endowment scandals, have recently had a negative impact on the industry and the regulator has indicated that the Treating Customer Fairly initiative is crucial to building consumer confidence in financial services firms.

The Edinburgh Financial Services Discussion Club, meets every month and is attended by representatives from the Scotland's leading financial firms.

Richard Walbach from Clearconcepts which runs the club said,

"There is no rulebook for Treating Customers Fairly, so financial companies have found benchmarking with their peers to be advantageous and effective. In Scotland, a high concentration of retail finance firms means that there is an increasing demand for firms to meet locally and exchange views and ideas."


NOTES FOR EDITORS


The next meeting of the Edinburgh Financial Services Discussion Club will be at The Balmoral Hotel on 24th April.

The Financial Services Discussion Club runs the following Special Interest Groups monthly:

• Retail Finance - London
• Retail Finance - Manchester/Leeds
• Retail Finance - Edinburgh
• Asset Management Retail - London
• Asset Management MiFID - London
• Investment Banking MiFID - London


The Financial Services Discussion Club is run by Clearconcepts, an independent communications house.

For more information or to join the Edinburgh club, contact Michelle Bridges: michelle.bridges@clearconcepts.co.uk, tel: 020 7405 0065


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