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Treating Customers Fairly (TCF)

The Financial Services Authority expects all firms to be able to demonstrate to themselves and to the FSA that they are consistently treating their customers fairly. At Standard Life, the importance of putting the customer at the heart of what we do has long been part of our culture and practices and is actively championed by our executive and senior management. Find out more from this statement (PDF, 31 KB, CD7040).

We support the FSA's view that a customer should receive the same fair treatment whether their product or service is provided and distributed by one firm or several. Read more about how we are supporting TCF within the Provider-Distributor relationship. (PDF, 1.6 MB, MM0040).

Over the past few years we have been approached by key distribution partners with questionnaires on TCF. In order to give assurance on our activity we have compiled this Q&A document to try and answer the most common questions that have been raised.

TCF outcomes

TCF outcome 1
Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.

TCF outcome 2
Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.

TCF outcome 3
Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.

TCF outcome 4
Where consumers receive advice, the advice is suitable and takes account of their circumstances.

TCF outcome 5
Consumers are provided with products that perform as firms have led them to expect, and then associated service is both of an acceptable standard and as they have been led to expect.

TCF outcome 6
Consumers do not face unreasonable post-sales barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.



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