Anglia UK Anglia UK
FREE 'compliance spot check' to highlight common vulnerabilities
FREE 'compliance spot check' to highlight common vulnerabilities This free compliance 'spot check' is designed to deliver a quick evaluation of key vulnerabilities. It points out how to test, measure and evaluate risk.

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TCF Management Information (MI)

Any organisation operating within credit management or account correction, is expected to have appropriate MI and measures in place.

MI systems must be designed to ensure they are recording the TCF consumer outcomes and comply with regulatory obligations. This means having robust processes, responsibilities, controls and standards in place.

FCA expectations on MI to demonstrate TCF

  • Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.
  • Where consumers receive advice, the advice is suitable and takes account of their circumstances
  • Organisations and representatives are consistently treating
    customers fairly and delivering the consumer outcomes
  • There are processes in place that monitor the MI to enable the right people to take action
  • MI is routinely collected during all periods of business activity in an accurate, timely, relevant and consistent fashion
  • MI should be produced and monitored regularly to avoid problems rather than commissioned in response to problems

MI demonstrates consistency in TCF and delivering consumer outcomes

MI must aim to ensure and demonstrate the fair treatment of customers. TCF specific MI should generally focus on how well a firm is delivering the TCF consumer outcomes rather than measuring processes.

So the question is, how confident are you in your whole credit management supply chain being fully compliant? How could you test it and evidence your systematic compliance process?


Would you like a FREE 'compliance spot check' to highlight common vulnerabilities?

This discrete service is designed for prime, sub-prime and captive finance providers. There is absolutely no obligation, simply - call 01775 713322 or submit the form above to arrange.