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AFB publishes small firms TCF guide |
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 The Association of Finance Brokers (AFB) has published the first in a series of Treating Customers Fairly (TCF) fact sheets.
The fact sheets offer guidance for the smallest firms assessing their management information (MI) for the FSA's 31st March TCF deadline. Advisers must have the relevant MI in place for the FSA's March deadline and show they consistently treat customers fairly by the December deadline.
The guide shows advisers a methodology of how to consider a company’s existing and required MI and then how to analyse and relate it to the FSA's six consumer outcomes.
It also provides example data to help advisers consider what is relevant to them and a pen portrait, which represents an example of a hypothetical adviser’s real life interpretation of the MI requirements.
Robert Sinclair, director of the AFB, says: "Our first fact sheet will provide real, practical assistance to our members in meeting the TCF requirements. While not exhaustive this should allow firms to consider what is relevant to their situation, and encourage them to think of other sources of data that are applicable.”
AFB members can download the documents from the AFB’s website.
Source: IFAONLINE |
