Replace TCF With Legal Best Interests Duty

20/10/2011 - Replace TCF With Legal Best Interests Duty

Replace TCF With Legal Best Interests Duty.

According to Adam Phillips, head of the Financial Service Authority’s (FSA) consumer panel, the regulator’s treating customers fairly (TCF) project has failed to provide enough protection for consumers.

He is now calling for ministers to introduce legislation which will require financial services firms to adhere to a 'fiduciary duty' to always act in the best interests of clients.

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20/10/2011 - Replace TCF With Legal Best Interests Duty

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