Another key principle of the FCA regime

Another key principle of the FCA regime - and one that all regulated firms must follow in all their consumer credit activities where the Consumer Duty does not apply (for example when dealing with business customers)- is Principle 6 “a firm must pay due regard to the interests of its customers and treat them fairly”.

This is commonly referred to as Treating Customers Fairly or ‘TCF'. The FCA expects firms to put the well-being of their customers at the very heart of how they run their business. A firms approach to TCF helps inform the FCA's view of their potential conduct risk.

The FCA has published six ‘consumer outcomes' here to help explain how firms can demonstrate compliance with TCF, along with examples of good and poor practice.  The six outcomes are: