Why Treating Customers Fairly is here to stay

In his article last month, Adam Samuel delivered an elegant obituary for TCF, concluding that the FSA had “run out of steam… descended into the abstract… and failed to take proper care of its own child which has withered and died.” This month Kate Davies of Mazars, a former member of the FSA’s TCF Consultative Group, takes a different view.

Kate Davies is a senior manager at Mazars: +44 (0)20 7063 4000, kate.davies@mazars.co.uk

In November 2008, the FSA announced a change to its programme of work in relation to Treating Customers Fairly: it had decided not to carry out a previously announced “structured sampling” exercise and would instead “accelerate” the integration of TCF delivery into its core supervisory work. The reason it gave for the change of approach was that arranging 100 assessments in a concentrated period would have been “resource intensive for both the FSA and for firms.”