Biba publishes management guide for TCF
The British Insurance Brokers’ Association (Biba) has launched a guide aimed at assisting its members in developing and using appropriate management information to demonstrate that they are treating customers fairly.
Biba’s regulatory working party has created the guidance in response to new deadlines introduced by the Financial Services Authority (FSA) in May to encourage firms to give fresh impetus to their treating customers fairly (TCF)programmes.
The FSA requires firms to be able to demonstrate delivery of fair outcomes for consumers by December 2008 and to have appropriate TCF management information in place by March 2008. The latter requirement, in particular identifying what constitutes management
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