TCF – a progress update

Firms must be consistently treating customers fairly by the end of December 2008, the FSA announced on the 8 May. On the same day it reported industry progress in meeting the March 07 deadline for implementing TCF-inspired change in a substantial part of the business: 93% of major retail groups; 87% of a sample of 436 medium-sized firms; 74% of a sample of 66 wholesale firms that need to consider TCF; and 41% of directly authorised small firms, based on a sample size of 659, were successful.