An online training tool designed to help advisers comply with the Financial Services Authority's (FS...
An online training tool designed to help advisers comply with the Financial Services Authority's (FSA) Treating Customers Fairly (TCF) principles is being developed in a joint initiative between the Institute of Financial Services (ifs) and Absolutely Training (ATL).
The Competence Maintenance Tool (CMT) will combine theory with practice. Modules will be presented as real-life scenarios and include client communication, feedback handling and preparing for the FSA's risk assessment process, Arrow.
According to the ifs, there has already been interest in the communicating with clients module, which takes an in-depth look at financial promotions - an area where some businesses are struggling to stay compliant.
Mark Roberts, head of faculty financial regulation and corporate and academic relationship manager at the ifs, said: "TCF needs to be evident at all levels within firms, and be seen to be addressed in areas such as product design, complaints handling and financial promotions, to name just a few. The new CMT is designed to develop understanding of the TCF agenda so businesses can satisfy both regulatory and customer expectations."
