Compliance training helps to ensure that employees are adhering to the regulations and laws required of them and that their actions do not put the organisation they are representing in a difficult or even illegal position.This course aligns with FCA guidelines and demonstrates the importance of being transparent when dealing with customers, not misleading them in order to make a sale and ensuring they have all the information they require to make an informed choice. According to the Financial Conduct Authority, ‘All firms must be able to show consistently that fair treatment of customers is at the heart of their business model. There are six consumer outcomes that firms should strive to achieve to ensure fair treatment of customers’. These outcomes are defined by the Financial Conduct Authority as follows.
- Outcome 1: Consumers can be confident they are dealing with firms where the fair treatment of customers is central to the corporate culture.
- Outcome 2: Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.
- Outcome 3: Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
- Outcome 4: Where consumers receive advice, the advice is suitable and takes account of their circumstances.
- Outcome 5: Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect.
- Outcome 6: Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.
In this course, you’ll learn how to ensure a culture of fair treatment of customers within your organisation. Developing an understanding of the requirements of the FCA and how it should be applied.