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ARTICLE · 20 DECEMBER 2016

Smart Communication And Treating Customers Fairly

Burges Salmon LLP
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Smartphones and the internet might have given people unlimited information in their pockets, but smart communication isn't simply digitising everything.

United KingdomFinance and Banking
Adrian Shedden
Adrian Shedden

FS16/10 shows that treating customers fairly is a major focus for the FCA. What is it, and what does it mean for smart communication?

"A predominantly paper-based disclosure may not meet today's consumer information needs", says the Financial Conduct Authority (FCA). It expects firms to be smart in their communication, knowing that consumers process information in different ways when making informed choices.

The FCA's FS16/10 presents a very detailed agenda of action to help you achieve that. And at the heart of this is the concept of treating customers fairly (TCF).

TCF and three key questions

Treating customers fairly is all about the consumer. The FCA has detailed various outcomes it expects to see from proper TCF: ensuring customers are confident they are being dealt with fairly, sold appropriate products which perform as expected, given clear information and suitable advice, and ensuring there are no unreasonable barriers to change, switch, claim or

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