CMT will focus on the principles of Treating Customers Fairly and will be available to business customers from November 2006.
A range of new modules is being developed for the CMT, combining the theory of TCF principles with real-life application in the business environment. These will include:
· Communicating with Clients
· Feedback Handling
· Preparing for ARROW
· Residential Lending
· General Insurance
There has already been a great deal of interest in the new ’Communicating with Clients’ module from corporate customers. This module will look at financial promotions in depth, an area where some businesses still need assistance to ensure that they are compliant.
“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 but a few,” commented Mark Roberts, head of faculty financial regulation and corporate and academic relationship manager, at the ifs. “The new CMT is designed to develop greater understanding of the TCF agenda so that businesses can satisfy both regulatory and customer expectations.”
