What’s Expected?

What is expected?

The FCA expects firms to show they’re consistently delivering on TCF, Regulated Companies must prove that:

  • Senior Management have created a culture where TCF is central to the business
  • Customer fairness outcomes are measured and acted on 
  • Any mistakes made regarding TCF are swiftly put right 
  • They have no serious or persistent TCF failings

Have a think, is your company meeting these requirements?


Firms can use business management information to prove they are committed to TCF, For example:

  • Monthly Sales Records can identify if targeted customers are using targeted products
  • Customer Satisfaction Surveys can provide evidence that customers feel properly informed about services
  • Records of Complaints can be kept alongside records of how those complaints were dealt with


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