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‘Managers must lead way in treating customers fairly’

Senior managers have been told to face up to their responsibilities when it comes to treating customers fairly.

The FSA thinks that progress has been made in implementing the TCF principles but says real success depends on senior staff leading the way.

Following the publication of its TCF report last year, the FSA wrote to the chief executives of 35 major retail groups asking them to use the publication as a guide to assessing their delivery of TCF.

The FSA says companies have been most successful where they have linked their TCF programmes to wider strategic changes in the organisation.

Director of major retail groups Oliver Page says: “The FSA is encouraged by the early signs we see of TCF progress at firms but there is still a long way to go.

“So far, we have mainly focused on bigger firms but our focus is widening to encompass smaller firms and businesses and will widen further over time.”


Brothers in alms

The Smiths are keen to implement a savings strategy for their two children – James, who is seven, and new arrival Matthew.The grandparents have said they will help but the Smiths are confused. What should they be advised?

A consumer’s view

Consistency is not something for which the FSA is well known and nowhere is this more apparent than in the regulation of general insur-ance which came into effect on January 15.

PFS says pro bono pilot is working but criticises CAB

The Personal Finance Society says its generic advice pilot scheme is working and has blamed difficulties on the Citizen’s Advice Bureaux. Director of public affairs John Ellis says the PFS has thrown its weight behind the scheme but stands by claims that getting advisers to do pro bono work has been a problem. He says […]

US equities: opportunities for short sellers expand

Optimism is as American as baseball and apple pie. And since the financial crisis, being optimistic about US equities has paid off: they have outperformed every other major developed market by a comfortable margin. Yet while there remain plenty of good reasons to be optimistic about US equities, Stephen Moore, manager of the Artemis US […]


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