The Certificate in Regulated Customer Care (CeRCC) will formally assess knowledge and understanding of the principles of treating customers fairly and provide evidence that action has been taken to embed the principles of Treating Customers Fairly (TCF) at all levels of the organisation.
The qualification will be examined electronically at over 150 testing centres throughout the UK from 31 May and will consist of one module, priced at £105, with registrations being taken from 2 April 2005.
Because the concept of treating customers fairly has not previously been formally tested ifs will be providing a website dedicated to the subject. It will also offer learning resources and articles to help firms understand the issues.
Tony Tudor, company secretary and director at the ifs, said: “The FSA wish to see evidence that Treating Customers Fairly’ is embedded in the culture of the firm at all levels. It needs to be seen to be addressed in areas such as product design, complaints handling and the treatment of customers by staff at all stages of their dealings with the firm.”
Karen Monaghan, managing director of The Kingsland Consultancy Ltd, said: “I can see this being of benefit to the bigger players in the market but for small firms or individuals I can’t see this being a major priority. I am still finding brokers who are unclear what compulsory qualifications they need, nevermind extra compliance.”
