The FCA expects firms to show they’re consistently delivering on TCF, Regulated Companies must prove that:
Have a think, is your company meeting these requirements?
Firms can use business management information to prove they are committed to TCF, For example:
The FCA investigates whether firms are meeting the TCF outcomes, and can enforce penalties if they’re not.
It can levy fines against organisations and even retract their financial licence. It can also demand compensation for customers that have been misled or misinformed.
All of these things can damage a businesses reputation – so failing on TCF can cost a company in more ways than one