The FSA has set a deadline for regulated firms to reach the TCF initiative's 'implementing' stage in a substantial part of their business.
In this week's FSA report on industry progress towards meeting the requirements of its treating customers fairly (TCF) initiative, the regulator has set a deadline of March 2007.
Many elements of the financial services industry still have a long way to go in achieving TCF compliance, often due to a discrepancy between senior management's commitment and frontline delivery. Companies will have to improve their processes and technology if they are to show the FSA any measurable change in consumer outcomes by March next year.
